SALE OF LAND ACT 1962 - SECT 17 Regulations

SALE OF LAND ACT 1962 - SECT 17

    (1)     The Governor in Council may make regulations for or with respect to all matters and things authorized or required to be prescribed or necessary or convenient to be prescribed for carrying out or giving effect to this Act.

S. 17(2) inserted by No. 14/2019 s. 16.

    (2)     Without limiting subsection (1), for the purposes of section 29WA(b), the Governor in Council may make regulations for or with respect to requirements for rent-to-buy arrangements, in particular—

        (a)     money paid for or with respect to the rights or obligations that are the subject of such arrangements, including the following—

              (i)     the holding of the money on trust on behalf of purchasers;

              (ii)     the money being held in interest bearing accounts;

              (iii)     other matters as to interest on the money, including the application of the interest and dealing with the interest if the purchaser's right is not exercised; and

        (b)     the inclusion of certain conditions in rent-to-buy arrangements, including conditions for or with respect to any obligation in the arrangement on a purchaser to purchase any land that is the subject of the arrangement; and

        (c)     any other requirements as to the effect of, or terms and conditions of, rent-to-buy arrangements.

Division 2—Arbitrators