16
CurrentPayment of particular amounts
Part 2Sale of proposed lots
Division 4Amounts held in trust accounts
16 Payment of particular amounts
This division applies to the following amounts—
(a)
an amount paid towards the purchase of a proposed lot under a contract for the sale of the lot (other than an amount paid at settlement);
(b)
an amount paid under another instrument (whether legally binding or not) relating to the sale of a proposed lot.
Examples of instruments for paragraph (b)—
• an option to purchase
• an instrument providing for an expression of interest
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