266Claim for compensation

266 Claim for compensation (1) This section applies if, before completion of a contract for the sale of a unit, the buyer reasonably believes there would be a breach of an implied warranty were the contract to be completed. (2) The buyer may, by written notice given to the seller— (a) tell the seller— (i) about the breach; and (ii) that the buyer will complete the contract; and (b) claim compensation for the breach. (3) A notice under this section must be given— (a) if the contract for the unit is entered before the units plan for the unit is registered—not later than 3 days before the buyer is required to complete the contract; or (b) in any other case—not later than 14 days after the later of the following happens: (i) the buyer’s copy of the contract is received by the buyer; (ii) another period agreed between the buyer and seller ends. (4) The buyer may not claim compensation under this section only because the breach of the implied warranty relates to an amendment to the development statement that is an excluded change.