Div 2A1 Preliminary

Division 2A.1 Preliminary 19AA Definitions—pt 2A (1) In this part: certificate of occupancy—see the Building Act 2004, dictionary. Commonwealth, a State or the Northern Territory that substantially corresponds to a territory entity. off-the-plan contract— (a) means a contract for the sale of— (i) a unit for residential use before the units plan for the unit is registered; or (ii) a residence (other than a unit) on land identified in the contract before the certificate of occupancy for the residence is issued; and (b) for division 2A.4—includes a contract for the sale of vacant land for residential use identified in the contract before the Crown lease for the land is registered. property developer licence means a licence issued under the Property Developers Act 2024, part 2. regulated residential building—see the Property Developers Act 2024, dictionary.

related entity, of a seller, means— (a) if the seller is a corporation—a corporation that holds all of the issued share capital of the seller; or registered means registered with the registrar-general under the— (a) Land Titles Act 1925; or (b) Land Titles (Unit Titles) Act 1970. Division 2A.2 Off-the-plan contracts—licence requirements 19AB Off-the-plan contracts—seller must be licensed (1) A seller commits an offence if— (a) 2 parties enter into an off-the-plan contract for the sale of a regulated residential building; and (b) either of the following applies: (i) neither the seller, nor any related entity of the seller, holds a property developer licence; (ii) the seller or a related entity holds a property developer licence that restricts the seller or related entity from entering into the off-the-plan contract.

(2) This section does not apply to— (b) a territory entity or a Commonwealth or State entity; or (c) a person excluded by regulation. mentioned in s (2) (see Criminal Code, s 58). 19AC Off-the-plan contracts—advertising (a) the person publishes an advertisement for the sale of a regulated residential building under an off-the-plan contract; and (b) the advertisement does not contain the property developer licence number of the proposed seller or a related entity of the proposed seller. (2) Subsection (1) does not apply to— (b) a territory entity or a Commonwealth or State entity; or (c) a person excluded by regulation. (3) A person commits an offence if— (a) the person publishes an advertisement for the sale of a regulated residential building under an off-the-plan contract; and (b) the advertisement includes a statement about the property developer licence number of the proposed seller or a related entity of the proposed seller; and

(c) the statement is false or misleading in a material particular. (4) An offence against this section is a strict liability offence. Division 2A.3 Off-the-plan contracts—disclosure requirements 19AD Disclosure statements (1) Before a buyer and seller enter into an off-the-plan contract, the seller must give the buyer a statement (a disclosure statement) including the following matters: (a) if section 19AB requires the seller, or a related entity of the seller, to hold a property developer licence— (i) the licence number; (ii) a statement that the register under the Property Developers Act 2024, section 25 contains information about property developers licensed under that Act; (b) the fixtures, fittings and finishes that are included in each residence; (c) any other matter prescribed by regulation. (2) This division does not limit the operation of the Civil Law (Property) Act 2006, part 2.9 (Unit titles). Note The Civil Law (Property) Act 2006, pt 2.9 requires additional matters to be disclosed before an off-the-plan contract for the sale of a unit may be entered into.