A contract for the sale of a lot in a proposed community titles scheme must provide for settlement by reference to the establishment of the scheme (requiring both registration of the plan and recording of the community management statement), not merely by reference to registration of the Building Format Plan. Notification of plan registration does not equate to advice that the scheme has been established. However, the precise words of s 212(1) need not be used; it suffices if the contract clause has the required effect. A clause fixing settlement at 14 days after the relevant advice (rather than prohibiting settlement earlier than 14 days) is likely sufficient, though Holmes JA reserved her position on this point.
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