Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A general
conditional contract is an eligible conditional contract, completion of which
is conditional on the happening of one or more of the following events, as
specified in the contract —
(a) the
obtaining by the purchaser of a satisfactory private taxation ruling by the
Commissioner of Taxation of the Commonwealth as to the consequences of the
contract with respect to taxation under a law of the Commonwealth;
(b) the
obtaining to the satisfaction of a purchaser under the contract of funds or of
approval to obtain funds to finance the purchase;
(c) the
obtaining by the purchaser of a satisfactory building inspection, geotechnical
or environmental report from a third party in relation to the property to be
sold or conveyed under the contract;
(d) the
obtaining by a vendor of the consent of the Minister responsible for
administering the Land Administration Act 1997 to transfer a lease of
leasehold land to a purchaser;
(e) the
authorisation of the payment to the purchaser of a first home owner grant
under the First Home Owner Grant Act 2000 ;
(f) the
obtaining by the purchaser of a licence to trade or the grant of a franchise;
(g) the
obtaining by the vendor of a commercial property of the renewal of an existing
lease of the property;
(h) the
obtaining from the landlord of a leasehold business by the vendor of the
business of a new lease, or of an assignment of the lease to a purchaser;
(i)
the sale of another property by the purchaser;
(j) the
obtaining by the vendor of the registration of a plan of subdivision, or of a
strata plan or survey strata plan;
(k) the
obtaining by the purchaser of approval from a regulatory body;
(l) the
results of the making of due diligence inquiries by the purchaser where the
results are to be measured against objective criteria set out in the contract;
(m) the
issue of a certificate of title (however described) for the property that is
the subject of the contract;
(n) a
prescribed event.
(2) Except for the
purposes of the definitions in sections 9, 10, 11 and 12, a reference in
this Act to a general conditional contract is to be read as excluding a
reference to a farming land conditional contract, an off-the-plan conditional
contract, a mining tenement conditional contract or a subdivision conditional
contract.
[Section 8 inserted by No. 12 of 2004
s. 15.]