Section 2 - Land and Business (Sale and Conveyancing) Regulations 2025 - Copies of the articles of the strata corporation may also be obtained from the Lands Titles Registration Office. | Zoe
2 Copies of the articles of the strata corporation may also be obtained from the Lands Titles Registration Office.
3 All owners of a strata unit are bound by the articles of the strata corporation. The articles regulate the rights and liabilities of owners of units in relation to their units and the common property and matters of common concern.
4 For a brief description of some of the matters that need to be considered before purchasing a strata unit, see Division 3 of this Schedule.
Particulars of building indemnity insurance
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Building indemnity insurance is not required for—
(a) domestic building work for which approval under the Planning, Development and Infrastructure Act 2016, the repealed Development Act 1993 or the repealed Building Act 1971 is or was not required; or
(b) minor domestic building work (see section 3 of the Building Work Contractors Act 1995); or
(c) domestic building work commenced before 1 May 1987; or
(d) building work in respect of which an exemption from the application of Division 3 of Part 5 of the Building Work Contractors Act 1995 applies under the Building Work Contractors Regulations 2011; or
(e) building work in respect of which an exemption from the application of Division 3 of Part 5 of the Building Work Contractors Act 1995 has been granted under section 45 of that Act.
Details of building indemnity insurance still in existence for building work on the land:
Name(s) of person(s) insured:
Name of insurer:
Limitations on the liability of the insurer:
Name of builder:
Builder's licence number:
Date of issue of insurance:
Description of insured building work:
Exemption from holding insurance:
If particulars of insurance are not given, has an exemption been granted under section 45 of the Building Work Contractors Act 1995 from the requirement to hold an insurance policy in accordance with Division 3 of Part 5 of that Act?
(a) Date of the exemption:
(b) Name of builder granted the exemption:
(c) Licence number of builder granted the exemption:
(d) Details of building work to which the exemption applies:
(e) Details of conditions (if any) to which the exemption is subject:
Particulars relating to asbestos at workplaces
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In these particulars—
asbestos and asbestos containing material have the same meaning as in the Work Health and Safety Regulations 2012;
workplace has the same meaning as in the Work Health and Safety Act 2012.
Is there a workplace on the land?
If YES, is there an asbestos register for the workplace?
If YES, does that register record any asbestos or asbestos containing material at the workplace (or likely to be present at the workplace from time to time) and specify the location, type and condition of that asbestos or asbestos containing material?
If YES—
(b) has a plan been prepared for the management of asbestos at the workplace?
(c) is any asbestos or asbestos containing material to be removed before settlement?
1. A register is not required to be prepared for a workplace—
(a) if a register has already been prepared for the workplace; or
(b) if—
(i) the workplace is a building that was constructed after 31 December 2003; and
(ii) no asbestos has been identified at the workplace; and
(iii) no asbestos is likely to be present at the workplace from time to time.
2. A person with management or control of a workplace who plans to relinquish management or control must ensure (so far as is reasonably practicable) that the asbestos register is given to the person assuming management or control of the workplace.
Particulars relating to aluminium composite panels
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Has the vendor been notified that a building on the land has been identified, as part of a South Australian Building Cladding Audit initiated in 2017 and conducted by the former Department of Planning, Transport and Infrastructure in conjunction with the Metropolitan Fire Service, Country Fire Service and councils—
(a) as having aluminium composite panels installed on the exterior of the building; and
(b) as constituting a moderate, high or extreme risk as a result of that installation; and
(c) as requiring remediation to reduce the risk to an acceptable level; and
(d) as not having had the necessary remedial work performed or a determination made by the appropriate authority of the relevant council (within the meaning of section 157 of the Planning, Development and Infrastructure Act 2016) that no further action is required?
1 the actions required to remediate the risk (if known):
2 the estimated costs of remediation (if known):
Particulars relating to court or tribunal process
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If process has issued out of any court or tribunal in relation to a claim—
(a) that is stated to affect the land or the value of which is $5 000 or more; and
(b) that presently affects (or may prospectively affect) title to, or the possession or enjoyment of, the land,
the vendor must provide the following particulars:
1 Name of court or tribunal:
2 Names of parties:
3 Nature of claim:
4 Amount of claim (if applicable):
5 Amount of judgment (if applicable):
6 Name of judgment creditor (if applicable):
Particulars relating to land irrigated or drained under Irrigation Acts
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1—Land irrigated or drained under Irrigation Act 2009
If the land is land in respect of which water is supplied or delivered, or is drained, through an irrigation or drainage system provided by an irrigation trust under the Irrigation Act 2009—
(a) has the trust given notice under section 40 of that Act in respect of the land?
(iii) the amount (if any) payable under section 40(7) of the Act:
(b) has the trust given notice under section 50 of that Act?
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2—Land irrigated or drained under Renmark Irrigation Trust Act 2009
If the land is land in respect of which water is supplied or delivered, or is drained, through an irrigation or drainage system provided by the Renmark Irrigation Trust under the Renmark Irrigation Trust Act 2009—
(a) has the Trust given notice under section 41 of that Act in respect of the land?
(iii) the amount (if any) payable under section 41(7) of the Act:
(b) has the Trust given notice under section 52 of that Act in respect of the land?
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Particulars relating to environment protection
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1—Interpretation
(1) In this and the following items (items 1 to 7 inclusive)—
domestic activity has the same meaning as in the Environment Protection Act 1993;
environmental assessment, in relation to land, means an assessment of the existence or nature or extent of—
(a) site contamination (within the meaning of the Environment Protection Act 1993) at the land; or
(b) any other contamination of the land by chemical substances,
and includes such an assessment in relation to water on or below the surface of the land;
EPA means the Environment Protection Authority established under the Environment Protection Act 1993;
pre-1 July 2009 site audit, in relation to land, means a review (carried out by a person recognised by the EPA as an environmental auditor) that examines environmental assessments or remediation of the land for the purposes of determining—
(a) the nature and extent of contamination of the land by chemical substances present or remaining on or below the surface of the land; and
(b) the suitability of the land for a particular use; and
(c) what remediation is or remains necessary for a particular use,
but does not include a site contamination audit (as defined below) completed on or after 1 July 2009;
pre-1 July 2009 site audit report means a detailed written report that sets out the findings of a pre‑1 July 2009 site audit;
prescribed commercial or industrial activity—see item 1(2);
prescribed fee means the fee prescribed under the Environment Protection Act 1993 for inspection of, or obtaining copies of information on, the public register;
public register means the public register kept by the EPA under section 109 of the Environment Protection Act 1993;
site contamination audit has the same meaning as in the Environment Protection Act 1993;
site contamination audit report has the same meaning as in the Environment Protection Act 1993.
(2) For the purposes of this and the following items (items 1 to 7 inclusive), each of the following activities (as defined in Schedule 3 clause 2 of the Environment Protection Regulations 2023) is a prescribed commercial or industrial activity:
abrasive blasting
acid sulphate soil generation
agricultural activities
airports, aerodromes or aerospace industry
animal burial
animal dips or spray race facilities
animal feedlots
animal saleyards
asbestos disposal
asphalt or bitumen works
battery manufacture, recycling or disposal
breweries
brickworks
bulk shipping facilities
cement works
ceramic works
charcoal manufacture
coal handling or storage
coke works
compost or mulch production or storage
concrete batching works
curing or drying works
defence works
desalination plants
dredge spoil disposal or storage
drum reconditioning or recycling works
dry cleaning
electrical or electronics component manufacture
electrical substations
electrical transformer or capacitor works
electricity generation or power plants
explosives or pyrotechnics facilities
fertiliser manufacture
fibreglass manufacture
fill or soil importation
fire extinguisher or retardant manufacture
fire stations
fire training areas
foundry
fuel burning facilities
furniture restoration
gasworks
glass works
glazing
hat manufacture or felt processing
incineration
iron or steel works
laboratories
landfill sites
lime burner
metal coating, finishing or spray painting
metal forging
metal processing, smelting, refining or metallurgical works
mineral processing, metallurgical laboratories or mining or extractive industries
mirror manufacture
motor vehicle manufacture
motor vehicle racing or testing venues
motor vehicle repair or maintenance
motor vehicle wrecking yards
mushroom farming
oil recycling works
oil refineries
paint manufacture
pest control works
plastics manufacture works
printing works
pulp or paper works
railway operations
rubber manufacture or processing
scrap metal recovery
service stations
ship breaking
spray painting
tannery, fellmongery or hide curing
textile operations
transport depots or loading sites
tyre manufacture or retreading
vermiculture
vessel construction, repair or maintenance
waste depots
wastewater storage, treatment or disposal
water discharge to underground aquifer
wetlands or detention basins
wineries or distilleries
wood preservation works
woolscouring or wool carbonising works
works depots (operated by councils or utilities)
2—Pollution and site contamination on the land—questions for vendor
(1) Is the vendor aware of any of the following activities ever having taken place at the land:
(a) storage, handling or disposal of waste or fuel or other chemicals (other than in the ordinary course of domestic activities)?
(b) importation of soil or other fill from a site at which—
(i) an activity of a kind listed in paragraph (a) has taken place; or
(ii) a prescribed commercial or industrial activity (see item 1(2) above) has taken place?
If YES, give details of all activities that the vendor is aware of and whether they have taken place before or after the vendor acquired an interest in the land:
(2) Is the vendor aware of any prescribed commercial or industrial activities (see item 1(2) above) ever having taken place at the land?
If YES, give details of all activities that the vendor is aware of and whether they have taken place before or after the vendor acquired an interest in the land:
(3) Is the vendor aware of any dangerous substances ever having been kept at the land pursuant to a licence under the Dangerous Substances Act 1979?
If YES, give details of all dangerous substances that the vendor is aware of and whether they were kept at the land before or after the vendor acquired an interest in the land:
(4) Is the vendor aware of the sale or transfer of the land or part of the land ever having occurred subject to an agreement for the exclusion or limitation of liability for site contamination to which section 103E of the Environment Protection Act 1993 applies?
If YES, give details of each sale or transfer and agreement that the vendor is aware of:
(5) Is the vendor aware of an environmental assessment of the land or part of the land ever having been carried out or commenced (whether or not completed)?
If YES, give details of all environmental assessments that the vendor is aware of and whether they were carried out or commenced before or after the vendor acquired an interest in the land:
These questions relate to details about the land that may be known by the vendor. A "YES" answer to the questions at items 2(1) or 2(2) may indicate that a potentially contaminating activity has taken place at the land (see sections 103C and 103H of the Environment Protection Act 1993) and that assessments or remediation of the land may be required at some future time.
A "YES" answer to any of the questions in this item may indicate the need for the purchaser to seek further information regarding the activities, for example, from the council or the EPA.
3—Licences and exemptions recorded by EPA in public register
Does the EPA hold any of the following details in the public register:
(a) details of a current licence issued under Part 6 of the Environment Protection Act 1993 to conduct any prescribed activity of environmental significance under Schedule 1 of that Act at the land?
(b) details of a licence no longer in force issued under Part 6 of the Environment Protection Act 1993 to conduct any prescribed activity of environmental significance under Schedule 1 of that Act at the land?
(c) details of a current exemption issued under Part 6 of the Environment Protection Act 1993 from the application of a specified provision of that Act in relation to an activity carried on at the land?
(d) details of an exemption no longer in force issued under Part 6 of the Environment Protection Act 1993 from the application of a specified provision of that Act in relation to an activity carried on at the land?
(e) details of a licence issued under the repealed South Australian Waste Management Commission Act 1979 to operate a waste depot at the land?
(f) details of a licence issued under the repealed Waste Management Act 1987 to operate a waste depot at the land?
(g) details of a licence issued under the repealed South Australian Waste Management Commission Act 1979 to produce waste of a prescribed kind (within the meaning of that Act) at the land?
(h) details of a licence issued under the repealed Waste Management Act 1987 to produce prescribed waste (within the meaning of that Act) at the land?
These questions relate to details about licences and exemptions required to be recorded by the EPA in the public register. If the EPA answers "YES" to any of the questions—
• in the case of a licence or exemption under the Environment Protection Act 1993—
— the purchaser may obtain a copy of the licence or exemption from the public register on payment of the prescribed fee; and
— the purchaser should note that transfer of a licence or exemption is subject to the conditions of the licence or exemption and the approval of the EPA (see section 49 of the Environment Protection Act 1993); and
• in the case of a licence under a repealed Act—the purchaser may obtain details about the licence from the public register on payment of the prescribed fee.
A "YES" answer to any of these questions may indicate that a potentially contaminating activity has taken place at the land (see sections 103C and 103H of the Environment Protection Act 1993) and that assessments or remediation of the land may be required at some future time.
The EPA will not provide details about licences to conduct the following prescribed activities of environmental significance (within the meaning of Schedule 1 Part A of the Environment Protection Act 1993): waste transport business (category A), waste transport business (category B), dredging, earthworks drainage, any other activities referred to in Schedule 1 Part A undertaken by means of mobile works, helicopter landing facilities, marinas and boating facilities or discharges to marine or inland waters.
The EPA will not provide details about exemptions relating to—
• the conduct of any of the licensed activities in the immediately preceding paragraph in this note; or
• noise.
4—Pollution and site contamination on the land—details recorded by EPA in public register
Does the EPA hold any of the following details in the public register in relation to the land or part of the land:
(a) details of serious or material environmental harm caused or threatened in the course of an activity (whether or not notified under section 83 of the Environment Protection Act 1993)?
(b) details of site contamination notified to the EPA under section 83A of the Environment Protection Act 1993?
(c) a copy of a report of an environmental assessment (whether prepared by the EPA or some other person or body and whether or not required under legislation) that forms part of the information required to be recorded in the public register?
(d) a copy of a site contamination audit report?
(e) details of an agreement for the exclusion or limitation of liability for site contamination to which section 103E of the Environment Protection Act 1993 applies?
(f) details of an agreement entered into with the EPA relating to an approved voluntary site contamination assessment proposal under section 103I of the Environment Protection Act 1993?
(g) details of an agreement entered into with the EPA relating to an approved voluntary site remediation proposal under section 103K of the Environment Protection Act 1993?
(h) details of a notification under section 103Z(1) of the Environment Protection Act 1993 relating to the commencement of a site contamination audit?
(i) details of a notification under section 103Z(2) of the Environment Protection Act 1993 relating to the termination before completion of a site contamination audit?
(j) details of records, held by the former South Australian Waste Management Commission under the repealed Waste Management Act 1987, of waste (within the meaning of that Act) having been deposited on the land between 1 January 1983 and 30 April 1995?
These questions relate to details required to be recorded by the EPA in the public register. If the EPA answers "YES" to any of the questions, the purchaser may obtain those details from the public register on payment of the prescribed fee.
5—Pollution and site contamination on the land—other details held by EPA
Does the EPA hold any of the following details in relation to the land or part of the land:
(a) a copy of a report known as a "Health Commission Report" prepared by or on behalf of the South Australian Health Commission (under the repealed South Australian Health Commission Act 1976)?
(b) details (which may include a report of an environmental assessment) relevant to an agreement entered into with the EPA relating to an approved voluntary site contamination assessment proposal under section 103I of the Environment Protection Act 1993?
(c) details (which may include a report of an environmental assessment) relevant to an agreement entered into with the EPA relating to an approved voluntary site remediation proposal under section 103K of the Environment Protection Act 1993?
(d) a copy of a pre‑1 July 2009 site audit report?
(e) details relating to the termination before completion of a pre‑1 July 2009 site audit?
These questions relate to details that the EPA may hold. If the EPA answers "YES" to any of the questions, the purchaser may obtain those details from the EPA (on payment of any fee fixed by the EPA).
6—Further information held by councils
Does the council hold details of any development approvals relating to—
(a) commercial or industrial activity at the land; or
(b) a change in the use of the land or part of the land (within the meaning of the repealed Development Act 1993 or the Planning, Development and Infrastructure Act 2016)?
The question relates to information that the council for the area in which the land is situated may hold. If the council answers "YES" to the question, it will provide a description of the nature of each development approved in respect of the land. The purchaser may then obtain further details from the council (on payment of any fee fixed by the council). However, it is expected that the ability to supply further details will vary considerably between councils.
A "YES" answer to paragraph (a) of the question may indicate that a potentially contaminating activity has taken place at the land (see sections 103C and 103H of the Environment Protection Act 1993) and that assessments or remediation of the land may be required at some future time.
It should be noted that—
• the approval of development by a council does not necessarily mean that the development has taken place;
• the council will not necessarily be able to provide a complete history of all such development that has taken place at the land.
7—Further information for purchasers
The purchaser is advised that other matters under the Environment Protection Act 1993 (that is, matters other than those referred to in this Statement) that may be relevant to the purchaser's further enquiries may also be recorded in the public register. These include:
• details relating to environmental authorisations such as applications, applicants, locations of activities, conditions, suspension, cancellation or surrender of authorisations, disqualifications, testing requirements and test results;
• details relating to activities undertaken on the land under licences or other environmental authorisations no longer in force;
• written warnings relating to alleged contraventions of the Environment Protection Act 1993;
• details of prosecutions and other enforcement action;
• details of civil proceedings;
• other details prescribed under the Environment Protection Act 1993 (see section 109(3)(l)).
Details of these matters may be obtained from the public register on payment to the EPA of the prescribed fee.
If—
• an environment performance agreement, environment protection order, clean‑up order, clean‑up authorisation, site contamination assessment order or site remediation order has been registered on the certificate of title for the land; or
• a notice of declaration of special management area in relation to the land has been gazetted; or
• a notation has been made on the certificate of title for the land that a site contamination audit report has been prepared in respect of the land; or
• a notice of prohibition or restriction on taking water affected by site contamination in relation to the land has been gazetted,
it will be noted in the items under the heading Environment Protection Act 1993 under the Table of Particulars in this Statement. Details of any registered documents may be obtained from the Lands Titles Registration Office.
Particulars relating to Livestock Act 1997
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Has any notice under section 33 or 37 of the Livestock Act 1997 been made that affects, presently or prospectively, enjoyment of the land?
Has any order under section 38, or notice under section 72, of the Livestock Act 1997 been issued to the vendor in relation to the land or any building on the land?
Date of order or notice:
Terms of order or notice:
Schedule—Division 3—Community lots and strata units
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Matters to be considered in purchasing a community lot or strata unit
The property you are buying is on strata or community title. There are special obligations and restrictions that go with this kind of title. Make sure you understand these. If unsure, seek legal advice before signing a contract. For example:
Governance
You will automatically become a member of the body corporate, which includes all owners and has the job of maintaining the common property and enforcing the rules. Decisions, such as the amount you must pay in levies, will be made by vote of the body corporate. You will need to take part in meetings if you wish to have a say. If outvoted, you will have to live with decisions that you might not agree with.
If you are buying into a mixed use development (one that includes commercial as well as residential lots), owners of some types of lots may be in a position to outvote owners of other types of lots. Make sure you fully understand your voting rights, see later.
Use of your property
You, and anyone who visits or occupies your property, will be bound by rules in the form of articles or by‑laws. These can restrict the use of the property, for example, they can deal with keeping pets, car parking, noise, rubbish disposal, short‑term letting, upkeep of buildings and so on. Make sure that you have read the articles or by‑laws before you decide whether this property will suit you.
Depending on the rules, you might not be permitted to make changes to the exterior of your unit, such as installing a television aerial or an air‑conditioner, building a pergola, attaching external blinds etc without the permission of the body corporate. A meeting may be needed before permission can be granted. Permission may be refused.
Note that the articles or by‑laws could change between now and when you become the owner: the body corporate might vote to change them. Also, if you are buying before the community plan is registered, then any by‑laws you have been shown are just a draft.
Are you buying a debt?
If there are unpaid contributions owing on this property, you can be made to pay them. You are entitled to know the financial state of the body corporate and you should make sure you see its records before deciding whether to buy. As a prospective owner, you can write to the body corporate requiring to see the records, including minutes of meetings, details of assets and liabilities, contributions payable, outstanding or planned expenses and insurance policies. There is a fee. To make a request, write to the secretary or management committee of the body corporate.
Expenses
The body corporate can require you to maintain your property, even if you do not agree, or can carry out maintenance and bill you for it.
The body corporate can require you to contribute to the cost of upkeep of the common property, even if you do not agree. Consider what future maintenance or repairs might be needed on the property in the long term.
Guarantee
As an owner, you are a guarantor of the liabilities of the body corporate. If it does not pay its debts, you can be called on to do so. Make sure you know what the liabilities are before you decide to buy. Ask the body corporate for copies of the financial records.
Contracts
The body corporate can make contracts. For example, it may engage a body corporate manager to do some or all of its work. It may contract with traders for maintenance work. It might engage a caretaker to look after the property. It might make any other kind of contract to buy services or products for the body corporate. Find out what contracts the body corporate is committed to and the cost.
The body corporate will have to raise funds from the owners to pay the money due under these contracts. As a guarantor, you could be liable if the body corporate owes money under a contract.
Buying off the plan
If you are buying a property that has not been built yet, then you cannot be certain what the end product of the development process will be. If you are buying before a community plan has been deposited, then any proposed development contract, scheme description or by‑laws you have been shown could change.
Mixed use developments—voting rights
You may be buying into a group that is run by several different community corporations. This is common in mixed use developments, for example, where a group of apartments is combined with a hotel or a group of shops. If there is more than 1 corporation, then you should not expect that all lot owners in the group will have equal voting rights. The corporations may be structured so that, even though there are more apartments than shops in the group, the shop owners can outvote the apartment owners on some matters. Make enquiries so that you understand how many corporations there are and what voting rights you will have.
Further information
The Real Estate Institute of South Australia provides an information service for enquiries about real estate transactions, see www.reisa.com.au.
The Australian Institute of Conveyancers (SA Division) (AICSA) provides information and operates a Public Advice Service with respect to conveyancers and the conveyancing process, see www.aicsa.com.au.
Information and a booklet about strata and community titles is available from the Legal Services Commission of South Australia at www.lsc.sa.gov.au.
You can also seek advice from a legal practitioner.
Form 2—Vendor's statement (section 8)
Land and Business (Sale and Conveyancing) Act 1994
Part A—Parties and business
Part D—Certificate of qualified accountant with respect to trading statement
†Part E—Certificate with respect to prescribed inquiries by registered agent
Schedule 1
†Schedule 2
The purpose of a statement under section 8 of the Land and Business (Sale and Conveyancing) Act 1994 is to put you on notice of certain particulars concerning the business to be acquired and any land to be acquired as part of that business.
If you intend to carry out building work on the land, change the use of the land or divide the land, you should make further inquiries to determine whether this will be permitted. For example, building work may not be permitted on land not connected to a sewerage system or common drainage scheme if the land is near a watercourse, dam, bore or the River Murray and Lakes.
The Aboriginal Heritage Act 1988 protects any Aboriginal site or object on the land. Details of any such site or object may be sought from the "traditional owners" as defined in that Act.
If you desire additional information, it is up to you to make further inquiries as appropriate.
Instructions to the vendor for completing this statement:
† means strike out or omit the Part, Schedule, Division, Particulars or item if not applicable.
means strike out or omit the option that is not applicable.
If there is insufficient space to provide any particulars required, continue on attachments.
The particulars set out under the headings "Particulars relating to environment protection" and "Particulars relating to Livestock Act 1997" in Schedule 2 Division 2 must be included if the matters set out under those headings affect, presently or prospectively, the business the subject of the sale, regardless of whether land is sold under the contract for sale of the business. If land is sold under the contract, the particulars must be included in relation to both the land and the business the subject of the sale.
Part A—Parties and business
1 Purchaser:
†2 Purchaser's registered agent:
3 Vendor:
†4 Vendor's registered agent:
5 Date of contract (if made before this statement is served):
6 Description of business:
Address where business carried on:
†7 Description of the land:
[Identify the land including any certificate of title reference]
Right to cool‑off
(section 5)
1—Right to cool‑off and restrictions on that right
You may notify the vendor of your intention not to be bound by the contract for the sale of the business UNLESS—
(a) this form has been served on you not less than 5 clear business days before the making of the contract; or
(b) you have, before signing the contract, received independent legal advice from a legal practitioner and the legal practitioner has signed a certificate in the prescribed form as to the giving of that advice; or
(c) you purchased by auction; or
(d) you purchased on the same day as you, or some person on your behalf, bid at the auction of the business; or
(e) the sale is by tender and the contract is made not less than 5 clear business days after the day fixed for the closing of tenders and not less than 5 clear business days after service of this form; or
(f) the contract is made by the exercise of an option to purchase the business not less than 5 clear business days after the grant of the option and not less than 5 clear business days after service of this form; or
(g) the business is not a small business.
2—Time for service
The cooling‑off notice must be served—
(a) before the end of the fifth clear business day after the day on which this form is served on you; or
(b) before settlement takes place,
whichever is the earlier.
3—Form of cooling‑off notice
The cooling‑off notice must be in writing and must be signed by you.
4—Methods of service
The cooling‑off notice must be—
(a) given to the vendor personally; or
(b) posted by registered post to the vendor at the following address:
(being the vendor's last known address); or
(c) transmitted by fax or email to the following fax number or email address:
(being a number or address provided to you by the vendor for the purpose of service of the notice); or
(d) left for the vendor's agent (with a person apparently responsible to the agent) at, or posted by registered post to the agent at, the following address:
(being *the agent's address for service under the Land Agents Act 1994/an address nominated by the agent to you for the purpose of service of the notice).
Section 5(3) of the Land and Business (Sale and Conveyancing) Act 1994 places the onus of proving the giving of the cooling‑off notice on the purchaser. It is therefore strongly recommended that—
(a) if you intend to serve the notice by leaving it for the vendor's agent at the agent's address for service or an address nominated by the agent, you obtain an acknowledgment of service of the notice in writing; or
(b) if you intend to serve the notice by fax or email, you obtain a record of the transmission of the fax or email.
5—Effect of service
If you serve such a cooling‑off notice on the vendor, the contract will be taken to have been rescinded at the time when the notice was served. You are then entitled to the return of any money you paid under the contract other than—
(a) the amount of any deposit paid if the deposit did not exceed $100; or
(b) an amount paid for an option to purchase the business.
Proceeding with the purchase
If you wish to proceed with the purchase—
(a) it is strongly recommended that you take steps to make sure that the business and your interest in the property are adequately insured against loss or damage; and
(b) pay particular attention to the provisions in the contract as to time of settlement—it is essential that the necessary arrangements are made to complete the purchase by the agreed date—if you do not do so, you may be in breach of the contract; and
(c) you are entitled to retain the solicitor or registered conveyancer of your choice.
(section 8(1))
*I/We,
of
being the *vendor(s)/person authorised to act on behalf of the vendor(s) in relation to the transaction state—
(a) that the particulars set out in Schedule 1—
(i) are correct; and
(ii) are the particulars in relation to the business required to be given to you pursuant to section 8(1)(b) of the Land and Business (Sale and Conveyancing) Act 1994 (the Act); and
†(b) that the sale of the business involves the sale of land and that Schedule 2 contains all particulars required to be given to you pursuant to section 7(1) of the Act.
Part D—Certificate of qualified accountant with respect to trading statement
(section 8(2))
I,
†for [name of business that the accountant represents]
of
being a member of [professional accounting body]
and a qualified accountant, certify—
(a) that *I have/a person acting on my behalf has examined the records and accounts of the business for each of the financial years recorded on the trading statement in Division 1 of Schedule 1; and
†(b) that—
(i) in my opinion, the trading statement fairly and accurately represents the financial operations of the business; and
(ii) I am not aware of any circumstances that would render any particulars included in the trading statement inaccurate or misleading.
OR
†(c) that—
†(i) in my opinion, the trading statement fairly and accurately represents the financial operations of the business, subject to the following qualifications:
[Insert qualifications]; and
OR
†(ii) in my opinion, the trading statement may not fairly and accurately represent the financial operations of the business because:
[Provide clarification on individual items contained in Division 1 of Schedule 1 or general comments on the information contained in the records and accounts of the business, eg comments on the state of the records or accounts, the basis for deriving results, highlight and comment on included estimates etc. If space is insufficient, continue on attachments.]; and
(iii) I am not aware of any other circumstances that would render any particulars included in the trading statement inaccurate or misleading.
This certificate must be signed by the accountant personally and cannot be signed by the vendor even if they are a qualified accountant.
†Part E—Certificate with respect to prescribed inquiries by registered agent
(section 9)
I,
certify *that the responses/that, subject to the exceptions stated below, the responses to the inquiries made pursuant to section 9 of the Land and Business (Sale and Conveyancing) Act 1994 confirm the completeness and accuracy of the particulars set out in Schedule 2.
Exceptions:
*Vendor's/Purchaser's agent
*Person authorised to act on behalf of *Vendor's/Purchaser's agent
Schedule 1—Division 1—Prescribed particulars relating to business
(section 8(1)(b))
Financial year means the year in respect of which the accounts of the business are made up. If by reason of any alteration of the date on which the financial year of the business terminates, the accounts have been made up for a period greater or less than 1 year, that period may be regarded as a financial year.
If the vendor has carried on the business for less than 3 financial years, this statement must be completed for the period commencing on the day that the vendor commenced to carry on the business and ending immediately prior to the first day of the following financial year, and thereafter for each successive financial year.
If the vendor has carried on the business for a period in which the financial year does not terminate, this statement applies to the period from the day on which the vendor commenced to carry on the business to the date specified in this Schedule.
1—Summary
Name of vendor:
Location of business:
Date vendor commenced in the business:
Financial Year or Period
Average Weekly Sales
$
Gross Income Per Annum/Week
$
Overhead Costs Per Annum/Week
$
Net Profit Per Annum/Week
$
Normal Daily Trading Hours
To:
S
M
T
W
T
F
S
S
M
T
W
T
F
S
S
M
T
W
T
F
S
2—Plant and equipment
Depreciated value of plant and equipment as at the end of the last financial year: $
A depreciation Schedule must be attached.
3—Trading statement for last 3 financial years
To:
To:
To:
Gross takings (sales)
Less:
cost of goods sold
opening stock
plus purchases
less closing stock
Profit from sales
$
$
$
Profit from sales as a percentage of gross takings
%
%
%
Add
other income received:
fees
commissions
other [specify]
GROSS INCOME
$
$
$
Less:
Advertising
Accounting fees
Bad debts
ADI charges (excluding interest)
Cleaning and laundry
Depreciation
Directors' fees
Equipment hire
Insurance
Leasing or rental purchase of:
• equipment/plant
• motor vehicles
Licences, trade subscriptions
Light and power
Motor vehicles expenses
Rates and taxes
Rent
Repairs and maintenance
Stamps (for resale)
Stationery and postage
Superannuation employer contributions:
• award/productivity superannuation
• Commonwealth superannuation guarantee charge/levy
• employer superannuation scheme
Telephone
Training expenses (other than by way of wages or salary paid to employee)
Wages and salaries
Return to Work SA premium
Wrappings
Sundries
Other expenses [specify]
Trading Profit
$
$
$
Add:
Personal expenses of owner (ie drawings) where included above
Goods taken for own use
Private expenses/cash
(Proprietor's) wages
NET PROFIT
$
$
$
Net profit before income tax as a percentage of gross income
%
%
%
Schedule 1—Division 2—Further prescribed particulars relating to business
(section 8(1)(b))
1 (1) The vendor has carried on the business for a period of *years/months commencing on:
(2) The vendor has carried on the business at the present location for *years/months.
(3) The name of the registered proprietor of the fee simple of the location at which the business is presently carried on is:
†The name of the person who granted to the vendor the lease or licence to occupy that location is:
If the purchaser is not acquiring the fee simple of the location at which the business is presently carried on, it is necessary for the purchaser to ensure that they have a right to occupy the location.
2 (1) The vendor's *lease/tenancy agreement/licence is *verbal/in writing but not registered on the certificate of title/registered on the certificate of title.
(2) The particulars of the vendor's *lease/tenancy agreement/licence are as follows:
(a) date of current *lease/tenancy agreement/licence:
(b) term of current *lease/tenancy agreement/licence:
(c) date of expiry of current *lease/tenancy agreement/licence:
(d) rates and taxes payable by *landlord/licensor:
(e) rates and taxes payable by *tenant/licensee:
(f) right of renewal for the following period:
(g) present rent: $ per
(h) due date for next adjustment of rent:
(i) rent adjustment provisions for the term of the *lease/tenancy agreement/licence:
(3) Have any written notices been given by the landlord or licensor to the vendor pursuant to the terms of the *lease/tenancy agreement/licence that have not been complied with? *YES/NO
(4) Is the vendor aware of any written notice served on the landlord or licensor, or any circumstance, that may prospectively have a significant adverse effect on the business? *YES/NO
3 (1) The following goods (including plant, equipment, fixtures, fittings and stock in trade) in which any person has a present or contingent interest (whether by virtue of a mortgage, charge, lease or otherwise) are included in the sale:
Description of goods
Nature of interest and date of grant or creation
Name and address of person entitled to that interest
(2) The following goods may have been used by the vendor or may have been included in the vendor's books of account (including depreciation Schedules) but are to be retained by the vendor and not sold to the purchaser of the business:
4 Has any order been given under section 46 of the Food Act 2001 prohibiting the use of unclean, insanitary or unfit equipment for the manufacture, processing, transportation, preservation, display or other handling of food for sale? *YES/NO
Date order given:
Name of authority or person giving the order:
Requirements of the order:
5 (1) Is there a workplace within the meaning of the Work Health and Safety Act 2012 used in the business? *YES/NO
(2) If YES, is there an asbestos register for the workplace? *YES/NO
(3) If YES, does that register record any asbestos or asbestos containing material at the workplace (or likely to be present at the workplace from time to time) and specify the location, type and condition of that asbestos or asbestos containing material? *YES/NO
(4) If YES—
(b) has a plan been prepared for the management of asbestos at the workplace? *YES/NO
(c) is any asbestos or asbestos containing material to be removed before settlement? *YES/NO
(5) In this clause—
asbestos and asbestos containing material have the same meaning as in the Work Health and Safety Regulations 2012.