sec.19DWhen seller may terminate under sunset clause

### sec.19D When seller may terminate under sunset clause A seller of a proposed lot may terminate an off-the-plan contract under a sunset clause only if— the seller— gives the buyer a sunset clause notice; and receives the buyer’s consent, in writing, to the termination of the off-the-plan contract under the sunset clause; or the Supreme Court has made an order under section 19F permitting the seller to terminate the contract under the sunset clause; or subject to subsection (2) —a regulation prescribes another way (the prescribed way ) for the seller to terminate an off-the-plan contract under the sunset clause. A regulation under subsection (1) (c) may only be made if the Minister is satisfied the prescribed way will provide adequate consumer protection for a buyer. In this section— sunset clause notice means a notice, in writing, given by the seller to the buyer at least 28 days before the sunset date, that states the following information— that the seller proposes to terminate the contract on the sunset date; that the seller may only terminate the contract under the sunset clause if the buyer consents in writing to the proposed termination; the reasons the seller proposes to terminate the contract; that the buyer must respond to the notice no later than the day immediately before the sunset date. s 19D ins 2023 No. 29 s 50 (sec.19D-ssec.1) A seller of a proposed lot may terminate an off-the-plan contract under a sunset clause only if— the seller— gives the buyer a sunset clause notice; and receives the buyer’s consent, in writing, to the termination of the off-the-plan contract under the sunset clause; or the Supreme Court has made an order under section 19F permitting the seller to terminate the contract under the sunset clause; or subject to subsection (2) —a regulation prescribes another way (the prescribed way ) for the seller to terminate an off-the-plan contract under the sunset clause. (sec.19D-ssec.2) A regulation under subsection (1) (c) may only be made if the Minister is satisfied the prescribed way will provide adequate consumer protection for a buyer. (sec.19D-ssec.3) In this section— sunset clause notice means a notice, in writing, given by the seller to the buyer at least 28 days before the sunset date, that states the following information— that the seller proposes to terminate the contract on the sunset date; that the seller may only terminate the contract under the sunset clause if the buyer consents in writing to the proposed termination; the reasons the seller proposes to terminate the contract; that the buyer must respond to the notice no later than the day immediately before the sunset date. - (a) the seller— (i) gives the buyer a sunset clause notice; and (ii) receives the buyer’s consent, in writing, to the termination of the off-the-plan contract under the sunset clause; or - (i) gives the buyer a sunset clause notice; and - (ii) receives the buyer’s consent, in writing, to the termination of the off-the-plan contract under the sunset clause; or - (b) the Supreme Court has made an order under section 19F permitting the seller to terminate the contract under the sunset clause; or - (c) subject to subsection (2) —a regulation prescribes another way (the prescribed way ) for the seller to terminate an off-the-plan contract under the sunset clause. - (i) gives the buyer a sunset clause notice; and - (ii) receives the buyer’s consent, in writing, to the termination of the off-the-plan contract under the sunset clause; or - (a) that the seller proposes to terminate the contract on the sunset date; - (b) that the seller may only terminate the contract under the sunset clause if the buyer consents in writing to the proposed termination; - (c) the reasons the seller proposes to terminate the contract; - (d) that the buyer must respond to the notice no later than the day immediately before the sunset date.