Document ID: chunk:federal_register_of_legislation:F2023C00203:clause:6_44
Version: federal_register_of_legislation:F2023C00203
Segment Type: clause
Provision Reference: sch 6 cl 44
Character Range: 111807–112833

44  Holding of deposit and other contract money when lot is pre‑sold—section 149
 (1) For the purposes of subsection 149(1), a provision of a contract of sale that provides for any consideration payable by the purchaser prior to the deposit of the plan to be held on trust by a specified legal practitioner, registered agent or registered conveyancer until the plan is deposited must:
 (a) be printed in bold in a font size of not less than 14 points; and
 (b) be specifically brought to the attention of the purchaser by the vendor; and
 (c) be initialled by, or on behalf of, both the vendor and the purchaser.
 (2) If a contract for the sale of a lot in a proposed community scheme specifies a period for the purposes of paragraph 149(4)(a), that provision of the contract must:
 (a) be printed in bold in a font size of not less than 14 points; and
 (b) be specifically brought to the attention of the purchaser by the vendor; and
 (c) be initialled by, or on behalf of, both the vendor and the purchaser.

Part 4—Fees