Changes to the Land and Business (Sale and Conveyancing) Regulations 1995 Forms 1 and 2 Vendor's Statements (also known as the Section 7 & 8 statements) take effect from 1 March 2010.
The changes seek to provide clearer information for buyers. The changes mean that additional information about site contamination recorded by the Environment Protection Authority (EPA) in its Public Register will need to be disclosed under item 3 of the “Particulars relating to environment protection”.
This information will also be part of the Property Interest Report produced by the Department for Transport, Energy and Infrastructure.
In order to facilitate the changes certain transitional provisions will apply.
Under the transitional provisions, a Vendor's Statement prepared before the changes take effect will be taken to comply with the regulations if the statement:
- was prepared not more than 2 months before the commencement date;
- complies with the Act and regulations in force immediately before the commencement date;
- nothing besides the changes to the regulations has occurred to make the statement inaccurate; and
- is accurate as at the date of the service of the statement on the purchaser.
As both the EPA public register and the Property Interest Reports will be updated on 1 March 2010 to reflect these changes, information from the EPA Public Register or a Property Interest Report obtained before 1 March 2010 should not be used to prepare a Vendor's Statement on or after that date.
These changes were gazetted on 23 July 2009. The full text of the variation regulations may be accessed in the SA Government Gazette at http://www.governmentgazette.sa.gov.au/2009/july/2009_053.pdf
Current and historical versions of the regulations are available on the SA legislation website at:
Land and Business (Sale and Conveyancing ) Regulations 1995
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