66ZBCooling off period

#### 66ZB Cooling off period 66ZB Cooling off period > > (1) Subject to section 66ZC, there is to be a cooling off period for every option, during which the purchaser may exercise rights under section 66ZD. > > > (2) The cooling off period commences when the option is granted. > > > (3) The cooling off period ends at 5 pm on the fifth business day after the day on which the option was granted. > > > (4) The cooling off period may be extended by a provision in the option, or by the vendor in writing before the end of the cooling off period. > > > (5) The cooling off period may be shortened by a provision in the option, or by a separate written or oral agreement of the parties, but the provision or agreement does not take effect unless and until the purchaser gives to the vendor (or the vendor’s solicitor or agent) a certificate that complies with section 66ZF. > > > (6) The extension or shortening of the cooling off period may be effected under subsection (4) or (5) before, at or after the time the option is granted. > > **s 66ZB:** Ins 1990 No 21, Sch 1 (3). Am 2025 No 50, Sch 1\[9\].