Australian Capital Territory Numbered Acts

UNIT TITLES LEGISLATION AMENDMENT ACT 2020 (NO. 4 OF 2020) - SECT 20

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Part 5.6     Transitional—Unit Titles Legislation Amendment Act 2020

510     Meaning of commencement day —pt 5.6

In this part:

"commencement day" means the day the Unit Titles Legislation Amendment Act 2020 , section 20 commences.

511     Application to certain existing off-the-plan contracts—amendments made by Unit Titles Legislation Amendment Act 2020

    (1)     This section applies to an off-the-plan contract if—

        (a)     the contract—

              (i)     was entered into before 1 July 2021; or

              (ii)     is for the sale of a unit in a units plan in relation to which another off-the-plan contract (a related contract ) was entered into before 1 July 2021; and

        (b)     the contract or the related contract has not been completed.

    (2)     The following provisions apply to the off-the-plan contract and the rights and obligations of the parties under the contract:

        (a)     division 2.9.2 as in force immediately before the commencement day;

        (b)     section 260G.

    (3)     However, if the seller gives the buyer a disclosure statement that complies with the requirements of section 260 (1), as amended by the Unit Titles Legislation Amendment Act 2020 , from the day the disclosure statement is given to the buyer—

        (a)     division 2.9.2 applies to the contract and the rights and obligations of the parties under the contract; and

        (b)     to remove any doubt, section 260A (2) (b) applies to the contract.

512     Expiry—pt 5.6

This part expires 3 years after the day it commences.

Note     Transitional provisions are kept in the Act for a limited time. A transitional provision is repealed on its expiry but continues to have effect after its repeal (see Legislation Act

, s 88).