Saturday, September 26, 2020

Body Corporate And Community Management Act 1997

Chapter 8
Part 10
Division 4
Section 425

Termination of existing contract for sale of proposed lot—inaccuracy of disclosure statement | Section 425

(1)This section applies if, immediately before the commencement—

(a)section 217(b)(viii) applied to a contract because information contained in the disclosure statement, as rectified by any further statement, was inaccurate in relation to a matter mentioned in former section 213(2)(a)(ii), (iii) or (iv); and

(b)the buyer may have terminated the contract under section 217 because the buyer would, as a result of the inaccuracy mentioned in paragraph (a), have been materially prejudiced if compelled to complete the contract.

(2)Despite the amendment of former section 213 by the amending Act, the buyer may terminate the contract under section 217.

© 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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