72AComputer failure

72A Computer failure (1) This section applies to a contract for the sale of land if: (a) the contract is entered on or after the commencement of this section; and (b) time is of the essence for the contract; and (c) the purchaser cannot verify the vendor's title to the land on the date of the completion of the contract only because of a failure (the computer failure) of the computer system at the Land Titles Office; and (d) as a result, the contract is not completed on that date. (2) Subject to any contrary provision in the contract: (a) time ceases to be of the essence for the contract; and Law of Property Act 2000 43 (b) the contract is not breached because of the failure to complete the contract; and (c) a party to the contract may give notice, for the completion of the contract, after the first day during which the computer system is again operational continuously following the computer failure; and (d) the notice must state a period not exceeding 7 business days from the giving of the notice for the completion of the contract; and (e) when the notice is received by the other party to the contract, time is of the essence again for the contract. (3) To avoid doubt, this section may apply more than once for the