New South Wales Consolidated Acts

HOUSING ACT 2001 - SECT 26

26 Cancellation of agreement

(cf Act No 7, 1912, s 42)
If any contract for the sale of land from the Corporation is cancelled or forfeited for non-fulfilment of the conditions of the contract, the Corporation may, instead of any damages provided for in the contract, claim and recover for use and occupation an amount equivalent to 8.5 per cent per annum of the improved capital value of the property.