61ACancellation of contracts of sale not made in good faith

61A Cancellation of contracts of sale not made in good faith

(1) If, at any time, the Minister is satisfied that any tender for any property in respect of which a contract of sale was subsequently entered into was not made in good faith in accordance with the last preceding regulation, the Minister may, notwithstanding anything contained in these Regulations, direct the Custodian to cancel the contract of sale and may, in his discretion, order the forfeiture of any moneys, or any part thereof, previously paid by the purchaser under the contract of sale, and may authorize the Custodian or his duly authorized agent to enter into and take possession of the property in respect of which the contract of sale was entered into. The Custodian shall forthwith give effect to any direction given by the Minister under this subregulation.

(2) The Custodian may, subject to these Regulations, sell any property the contract for the sale of which has been cancelled under the last preceding subregulation.