Monday, September 28, 2020

Body Corporate And Community Management Act 1997

Chapter 8
Part 13
Section 444

Continuing application of old LSA | Section 444

(1) Old LSA, part 3 continues to apply in relation to a contract for the sale of a proposed lot entered into before the commencement as if the amendment Act had not been enacted.

(2) However, if, at any time before the settlement of a contract to which the part applies, the parties to the contract agree to settle the sale using e-conveyancing, the part is to be read with the following changes—

(a) old LSA, section 22(4)(a)—

omit, insert

‘(a)the vendor or the vendor’s agent can not require the purchaser to settle; and’;

(b) old LSA, section 23(1), ‘, without becoming entitled in terms of the instrument to receive a registrable instrument of transfer in exchange therefor’—

omit, insert

‘(but excluding an amount payable at settlement)’;

(c) old LSA, section 23(4)—

omit;

(d) old LSA, section 25(2)(a)—

omit, insert

‘(a)before settlement of the sale of the proposed lot; or’;

(e) old LSA, section 25(2)(b)(ii)—

omit, insert

‘(ii)before settlement of the sale of the proposed lot;’;

(f) old LSA, section 27, heading—

omit, insert—

‘27Purchaser’s rights if purchase not settled within a certain period’;

(g) old LSA, section 27(1)(b), ‘the vendor has not given the purchaser a registrable instrument of transfer for the lot’—

omit, insert

‘the sale of the proposed lot has not been settled’;

(h) old LSA, section 27(2), ‘before the vendor gives the purchaser the registrable instrument of transfer for the proposed lot’—

omit, insert

‘before the sale of the proposed lot has been settled’;

(i) old LSA, section 28, heading, ‘for giving of registrable instrument’—

omit.

(3)In this section—

e-conveyancing see the Property Law Act 1974, section 58A.

old LSA, followed by a provision number, means the provision with that number in the Land Sales Act 1984 as in force at any relevant time before the commencement.

© Sourced from the Queensland Legislation website at 1 April 2020. For the latest information on Queensland Government legislation please go to https://www.legislation.qld.gov.au.

Disclaimer: Reproduced from the Body Corporate and Community Management Act 1997. This website does not give legal advice or other professional advice. You should seek legal or other professional advice before acting and not rely on any of the content on this website.

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