sec.371Termination relating to particular contracts for sale of lots that are residential property

sec.371 Termination relating to particular contracts for sale of lots that are residential property

This section applies if— a contract form for the sale of a lot that is residential property was given to a proposed buyer by a seller or a seller’s agent before the commencement; and the contract form became or becomes a contract before, on or after the commencement. The contract may be terminated under amended section 206A and, for that purpose, the section applies with all necessary and convenient changes and the changes mentioned in subsection (3). For applying amended section 206A in relation to the contract— in subsection (1) of the section all words from ‘fails’ to ‘section 368A(2)(c)(ii)’ are taken to be omitted and to be replaced by the words ‘failed to give the buyer a clear statement directing the buyer’s attention to an information sheet in the approved form when the seller or the seller’s agent gave the buyer the contract form for the contract’; and in subsection (3) of the section all words from ‘if’ to ‘signed the contract form’ are taken to be omitted and to be replaced by the words ‘if the information sheet was attached to the contract form and the buyer signed the information sheet before the buyer signed the contract form’; and in subsection (4) of the section the word ‘receives’ is taken to be omitted and to be replaced by the words ‘received or receives’; and subsection (9) of the section is taken to be omitted. For amended section 206A(1) as applying under subsection (3)(a), it is declared that a person failed to give a clear statement directing attention to an information sheet in the approved form if, at the time the clear statement was given, the information sheet was not attached to the contract form. For applying amended section 206A as mentioned in subsection (3)(a) or (b)— a reference in the section to an information sheet in the approved form is a reference to an information sheet in the approved form under the pre-amended provision, section 206(6); and the word ‘attached’ has the meaning it has in amended chapter 5. In this section— amended section 205A means section 205A as in force after the commencement. amended section 206A means section 206A as in force after the commencement. attached see amended section 205A. s 371 ins 2010 No. 30 s 22 (sec.371-ssec.1) This section applies if— a contract form for the sale of a lot that is residential property was given to a proposed buyer by a seller or a seller’s agent before the commencement; and the contract form became or becomes a contract before, on or after the commencement. (sec.371-ssec.2) The contract may be terminated under amended section 206A and, for that purpose, the section applies with all necessary and convenient changes and the changes mentioned in subsection (3). (sec.371-ssec.3) For applying amended section 206A in relation to the contract— in subsection (1) of the section all words from ‘fails’ to ‘section 368A(2)(c)(ii)’ are taken to be omitted and to be replaced by the words ‘failed to give the buyer a clear statement directing the buyer’s attention to an information sheet in the approved form when the seller or the seller’s agent gave the buyer the contract form for the contract’; and in subsection (3) of the section all words from ‘if’ to ‘signed the contract form’ are taken to be omitted and to be replaced by the words ‘if the information sheet was attached to the contract form and the buyer signed the information sheet before the buyer signed the contract form’; and in subsection (4) of the section the word ‘receives’ is taken to be omitted and to be replaced by the words ‘received or receives’; and subsection (9) of the section is taken to be omitted. (sec.371-ssec.4) For amended section 206A(1) as applying under subsection (3)(a), it is declared that a person failed to give a clear statement directing attention to an information sheet in the approved form if, at the time the clear statement was given, the information sheet was not attached to the contract form. (sec.371-ssec.5) For applying amended section 206A as mentioned in subsection (3)(a) or (b)— a reference in the section to an information sheet in the approved form is a reference to an information sheet in the approved form under the pre-amended provision, section 206(6); and the word ‘attached’ has the meaning it has in amended chapter 5. (sec.371-ssec.6) In this section— amended section 205A means section 205A as in force after the commencement. amended section 206A means section 206A as in force after the commencement. attached see amended section 205A.