238Cooling off period

238 Cooling off period

(1) A resident may rescind a prohibited transaction in relation to real or personal property or a reportable transaction between the resident and the provider, or a close associate of the provider within the cooling off period.

(2) During the cooling off period, a provider, or a close associate of the provider, as the case requires, who is a party to a transaction must not have any other dealings with the property to which the transaction relates.

(3) This section applies despite anything to the contrary in any Act other than the Charter of Human Rights and Responsibilities Act 2006.

cooling off period, in relation to a transaction, whether or not a prohibited transaction or reportable transaction, means the period ending 5 days after the day on which the transaction was entered into.