Avoidance of contract for failure to disclose type 1 notifiable variation
161 Avoidance of contract for failure to disclose type 1 notifiable variation
A buyer may avoid a contract for the sale and purchase of a lot at any time before the settlement date for the contract if —
a type 1 notifiable variation occurs in relation to the contract; and
the seller does not substantially comply with the requirement under section 157 to give notice of the variation to the buyer within the required time.
However, if the seller gives a notice substantially complying with the requirement under section 157 before the buyer avoids the contract under this section, the buyer may not avoid the contract under this section more than 15 working days after the seller’s notice is given.
[Section 161 inserted: No. 30 of 2018 s. 83.]
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