6Application of Act to leases and agreements for sale

6 Application of Act to leases and agreements for sale

(1)  A transaction or agreement to lease, sell, or otherwise dispose of, vested land, other than in accordance with this Act, is void if the transaction or agreement is entered into on or after the commencement day.

(2)  For the avoidance of doubt, subsection (1) applies to a transaction or agreement that is entered into on or after the commencement day but before the day on which this Act receives the Royal Assent.

(3)  If a transaction or agreement that is entered into on or after the commencement day but before the day on which this Act receives the Royal Assent is void by virtue of this section –

(a) any deposit paid by a party to such a transaction or agreement is to be returned to that party; and

(b) no remedy, or breach or default of contract, may be claimed solely on the basis that the transaction or agreement is void by virtue of this section.