BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 345
Sale of lots
BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 345
Sale of lots
345 Sale of lots
(1) For a contract entered into by the original proprietor for a 1980 Act plan
before the commencement for the sale of a lot or proposed lot, the 1980 Act,
sections 49 and 49A apply even though a new scheme is established for the
plan.
(2) If a seller of a lot or proposed lot in a 1980 Act plan (other than
the original proprietor for the plan) entered into a contract before the
commencement for the sale of the lot or proposed lot—
(a) the 1980 Act,
section 40 applies to the contract, and applies even though, if it is for the
sale of a proposed lot, the lot is not created until the plan is registered
after the commencement; but
(b) a body corporate may, rather than comply with
section 40 of the 1980 Act, give a body corporate information certificate
under this Act.
