Victorian Current Acts

SALE OF LAND ACT 1962 - SECT 29EB

    (1)     A person must not knowingly arrange or broker the sale of any residential land (other than residential land that is agricultural land) under a terms contract where the sale price of the land is less than the prescribed amount.

Penalty:     For a natural person, 240 penalty units or imprisonment for 2 years or both;

    For a body corporate, 1200 penalty units.

    (2)     A person must not knowingly induce another person to enter into a sale of any residential land (other than residential land that is agricultural land) under a terms contract where the sale price of the land is less than the prescribed amount.

Penalty:     For a natural person, 240 penalty units or imprisonment for 2 years or both;

    For a body corporate, 1200 penalty units.

S. 29EC inserted by No. 14/2019 s. 20.