New South Wales Consolidated Acts

CONVEYANCING ACT 1919 - SECT 66ZP

66ZP Purchaser's right to rescind after service of registered plan

(1) A vendor under an off the plan contract must, before completion, serve on the purchaser a copy of--

(a) the registered plan, and

(b) any other document that was registered with the plan.

(2) The purchaser is not required to complete the contract earlier than 21 days after receiving copies of the registered plan and other documents served in accordance with subsection (1).

(3) The purchaser may, after receiving the registered plan and other documents, rescind the contract if the disclosure statement includes any inaccuracy in relation to a material particular such that the purchaser--

(a) would not have entered into the contract had the purchaser been aware of the inaccuracy, and

(b) would be materially prejudiced by the inaccuracy.

(4) If a notice of rescission is not served by the purchaser in accordance with section 66ZQ, the disclosure statement is taken to be amended to include the information in the registered plan and other documents.

(5) In this section,
"disclosure statement" means the disclosure statement that was attached to the contract under section 66ZM and, if relevant, as amended under section 66ZO(2).