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Property Law Act 2023
sec.95Definitions for division
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### sec.95 Definitions for division
In this division—
buyer , under a contract for the sale of a lot, means—
if the contract is an option—
for a call option—the grantee of the option; or
for a put option—the grantor of the option; or
for a put and call option—a person who is the grantee of the call option or grantor of the put option; or
otherwise—the person who is bound under the contract, absolutely or conditionally, to buy the lot.
call option , for the sale of a lot, means an agreement or promise under which the grantor of the option agrees or promises to sell the lot to the grantee of the option if requested by the grantee.
contract , for the sale of a lot, includes—
an agreement or promise for the sale of the lot; and
an option for the sale of the lot.
disclosure documents , for a lot, means the documents required to be given by the seller of the lot to the buyer of the lot under section 99 .
disclosure statement , for a lot, see section 99 (1) (a) .
listed corporation see the Corporations Act , section 9 .
lot —
has the meaning given by the Land Title Act 1994 ; and
does not include a proposed lot.
option , for the sale of a lot, means—
a put option for the sale of the lot; or
a call option for the sale of the lot; or
a put and call option for the sale of the lot.
prescribed certificate , applicable to a lot, see section 99 (1) (b) .
put and call option , for the sale of a lot, means a contract under which there is a call option for the sale of the lot and a put option for the sale of the lot.
put option , for the sale of a lot, means an agreement or promise under which the grantor of the option agrees or promises to purchase the lot from the grantee of the option if requested by the grantee.
related , for a buyer of a lot and a seller of a lot, see section 96 .
seller , under a contract for the sale of a lot, means—
if the contract is an option—
for a call option—the grantor of the option; or
for a put option—the grantee of the option; or
for a put and call option—a person who is the grantor of the call option or grantee of the put option; or
otherwise—the person who is bound under the contract, absolutely or conditionally, to sell the lot.
statutory body —
has the meaning given by the Financial Accountability Act 2009 ; and
includes—
an entity of the Commonwealth or another State that is equivalent to a statutory body under the Financial Accountability Act 2009 ; and
an entity prescribed by regulation to be a statutory body for this definition; and
does not include an entity prescribed by regulation not to be a statutory body for this definition.
- (a) if the contract is an option— (i) for a call option—the grantee of the option; or (ii) for a put option—the grantor of the option; or (iii) for a put and call option—a person who is the grantee of the call option or grantor of the put option; or
- (i) for a call option—the grantee of the option; or
- (ii) for a put option—the grantor of the option; or
- (iii) for a put and call option—a person who is the grantee of the call option or grantor of the put option; or
- (b) otherwise—the person who is bound under the contract, absolutely or conditionally, to buy the lot.
- (i) for a call option—the grantee of the option; or
- (ii) for a put option—the grantor of the option; or
- (iii) for a put and call option—a person who is the grantee of the call option or grantor of the put option; or
- (a) an agreement or promise for the sale of the lot; and
- (b) an option for the sale of the lot.
- (a) has the meaning given by the Land Title Act 1994 ; and
- (b) does not include a proposed lot.
- (a) a put option for the sale of the lot; or
- (b) a call option for the sale of the lot; or
- (c) a put and call option for the sale of the lot.
- (a) if the contract is an option— (i) for a call option—the grantor of the option; or (ii) for a put option—the grantee of the option; or (iii) for a put and call option—a person who is the grantor of the call option or grantee of the put option; or
- (i) for a call option—the grantor of the option; or
- (ii) for a put option—the grantee of the option; or
- (iii) for a put and call option—a person who is the grantor of the call option or grantee of the put option; or
- (b) otherwise—the person who is bound under the contract, absolutely or conditionally, to sell the lot.
- (i) for a call option—the grantor of the option; or
- (ii) for a put option—the grantee of the option; or
- (iii) for a put and call option—a person who is the grantor of the call option or grantee of the put option; or
- (a) has the meaning given by the Financial Accountability Act 2009 ; and
- (b) includes— (i) an entity of the Commonwealth or another State that is equivalent to a statutory body under the Financial Accountability Act 2009 ; and (ii) an entity prescribed by regulation to be a statutory body for this definition; and
- (i) an entity of the Commonwealth or another State that is equivalent to a statutory body under the Financial Accountability Act 2009 ; and
- (ii) an entity prescribed by regulation to be a statutory body for this definition; and
- (c) does not include an entity prescribed by regulation not to be a statutory body for this definition.
- (i) an entity of the Commonwealth or another State that is equivalent to a statutory body under the Financial Accountability Act 2009 ; and
- (ii) an entity prescribed by regulation to be a statutory body for this definition; and