23Conclusion of development contract for a community scheme—the Act, s 58(2)(b)

23 Conclusion of development contract for a community scheme—the Act, s 58(2)(b)

23 Conclusion of development contract for a community scheme—the Act, s 58(2)(b)

(1) A development contract for a community scheme may specify a date for the conclusion of the contract that is between 10 and 20 years after the registration of the contract if—

(a) the developer applies to the Registrar-General for the longer period, and

(b) the Registrar-General is satisfied the development cannot be completed in 10 years.

(2) The application—

(a) must contain an explanation of why the development cannot be completed in 10 years, which may include the following information—

(i) the number of lots and subsidiary schemes proposed to be created before the conclusion of the development contract,

(ii) the proposed number of stages for the development of the land in the community scheme and the timing of those stages,

(iii) the details of planning approvals granted for the development of the land in the community scheme, and

(b) must be made before, or at the time of, lodgment of the proposed development contract for registration.