South Australia

Land and Business (Sale and Conveyancing) (Miscellaneous) Amendment Bill 2004

A Bill For

An Act to amend the Land and Business (Sale and Conveyancing) Act 1994.

Contents

Part 1—Preliminary

1 Short title

2 Commencement

3 Amendment provisions

Part 2—Amendment of Land and Business (Sale and Conveyancing) Act 1994

4 Amendment of section 7—Particulars to be supplied to purchaser of land before settlement

5 Amendment of section 23—Agent and employees not to have interest in land or business that agent commissioned to sell

6 Amendment of section 41—Regulations

The Parliament of South Australia enacts as follows:

Part 1—Preliminary

1—Short title

This Act may be cited as the Land and Business (Sale and Conveyancing) (Miscellaneous) Amendment Act 2004.

2—Commencement

This Act will come into operation on a day to be fixed by proclamation.

3—Amendment provisions

In this Act, a provision under a heading referring to the amendment of a specified Act amends the Act so specified.

Part 2—Amendment of Land and Business (Sale and Conveyancing) Act 1994

4—Amendment of section 7—Particulars to be supplied to purchaser of land before settlement

(1) Section 7(1)(b)(ii)—delete subparagraph (ii) and substitute:

(ii) if the vendor acquired a relevant interest in the land within 12 months before the date of the contract of sale—all transactions relating to the acquisition of the interest occurring within that period; and

(2) Section 7—after subsection (4) insert:

(5) In this section—

acquired a relevant interest, in relation to land, means—

(a) obtained title to the land; or

(b) obtained an option to purchase the land; or

(c) entered into a contract to purchase the land (whether on the vendor's own behalf or on behalf of another); or

(d) obtained an interest in the land of a category prescribed by regulation for the purposes of this definition.

5—Amendment of section 23—Agent and employees not to have interest in land or business that agent commissioned to sell

Section 23(3)—delete subsection (3) and substitute:

(3) The Minister may, on application, exempt—

(a) an agent from the application of subsection (1); or

(b) an officer or employee of an agent from the application of subsection (2),

in relation to the purchase of specified land or a specified business.

6—Amendment of section 41—Regulations

Section 41(2)—after paragraph (a) insert:

(ab) fix fees in respect of any matter under this Act and provide for their payment, recovery or waiver;