Land Sales Act 1984

In this division—off-the-plan contract means—

a contract for the sale of a proposed lot; or

a contract that grants a person an option to purchase a proposed lot.

registrar means the registrar of titles under the Land Title Act 1994, schedule 2.relevant event, for an off-the-plan contract, means—

the registration by the registrar of the plan of subdivision for the proposed lot the subject of the contract; or

the creation by the registrar of a separate indefeasible title for the proposed lot the subject of the contract; or

settlement of the contract; or

another event prescribed by regulation as a relevant event.

sunset clause, for an off-the-plan contract, means a term of the contract that provides for the contract to be terminated if a relevant event does not happen by the sunset date.sunset date, for an off-the-plan contract, means—

for a relevant event other than settlement of the contract—

the day on or by which the relevant event for the contract must happen; or

if the contract provides for the parties to the contract to extend the day mentioned in paragraph (i) to a later day—the later day; or

for a relevant event that is settlement of the contract, the day that is—

the day the seller must settle the contract; or

if the buyer does not terminate the contract under section 14(5) and the parties agree on another date (the later settlement day) on which the seller must settle the contract—the later settlement day.