New South Wales Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

HOME BUILDING ACT 1989 - SECT 16E

Maximum deposit for kit home supply

16E Maximum deposit for kit home supply

(1) The maximum amount of a deposit for the supply of a kit home is 10% of the contract price. A
"deposit" for the supply of a kit home is a payment on account before delivery of part of the kit home is made under a contract to supply a kit home.
(2) A person must not--
(a) demand or receive payment of a deposit for the supply of a kit home if the amount of the deposit exceeds the maximum imposed by this section, or
(b) enter into a contract under which the person is entitled to demand or receive payment of a deposit for the supply of a kit home if the amount of the deposit exceeds the maximum imposed by this section.
: Maximum penalty--1,000 penalty units in the case of a corporation and 200 penalty units in any other case.
(3) The regulations may make provision concerning how a contract price is to be determined for the purposes of this section.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback