(1) A person cannot sell a lot affected by an owners corporation unless the vendor or the owners corporation has a current insurance policy in accordance with the Owners Corporations Act 2006 for any insurance required by that Act to be effected by the owners corporation.
(2) If a lot is sold in contravention of subsection (1) the purchaser may avoid the sale at any time before the contract is completed.
No. 6685 s. 2.
S. 12 amended by No. 9554 s. 2(2)(Sch. 2 item 289).