South Australian Consolidated Acts South Australian Consolidated Acts51—Protection of purchaser against forfeiture under covenant for
insurance against fire in certain cases
(1) Where on the bona
fide purchase of a leasehold interest, under a lease containing a covenant on
the part of the lessee to insure against loss or damage by fire, the purchaser
is furnished with the written receipt of the person entitled to receive the
rent, or his agent, for the last payment of rent accrued due before the
completion of the purchase, and there is subsisting at the time of the
completion of the purchase an insurance in conformity with the covenant, the
purchaser or any person claiming under him shall not be subject to any
liability by way of forfeiture or damages, or otherwise, in respect of any
breach of the covenant committed at any time before the completion of the
purchase of which the purchaser had not notice before the completion of the
purchase: but this provision is not to take away any remedy which the lessor
or his legal representatives may have against the lessee or his legal
representatives for breach of covenant.
(2) This section
applies to all purchases made after the first day of November, 1860.