sec.34Application of old ss 11 and 12 to existing contracts

### sec.34 Application of old ss 11 and 12 to existing contracts Old sections 11 and 12 continue to apply in relation to amounts paid under a contract for the sale of a proposed lot entered into before the commencement as if the amendment Act had not been enacted. However, if, at any time before the settlement of the contract, the parties to the contract agree to settle the sale using e-conveyancing— old section 11(1) is to be read by omitting ‘, without becoming entitled in terms of the instrument to receive a registrable instrument of transfer in exchange therefor’ and inserting ‘(but excluding an amount payable at settlement)’; and old section 11 is to be read by omitting section 11(3). s 34 ins 2014 No. 46 s 54 (sec.34-ssec.1) Old sections 11 and 12 continue to apply in relation to amounts paid under a contract for the sale of a proposed lot entered into before the commencement as if the amendment Act had not been enacted. (sec.34-ssec.2) However, if, at any time before the settlement of the contract, the parties to the contract agree to settle the sale using e-conveyancing— old section 11(1) is to be read by omitting ‘, without becoming entitled in terms of the instrument to receive a registrable instrument of transfer in exchange therefor’ and inserting ‘(but excluding an amount payable at settlement)’; and old section 11 is to be read by omitting section 11(3). - (a) old section 11(1) is to be read by omitting ‘, without becoming entitled in terms of the instrument to receive a registrable instrument of transfer in exchange therefor’ and inserting ‘(but excluding an amount payable at settlement)’; and - (b) old section 11 is to be read by omitting section 11(3).