Land and Business (Sale and Conveyancing) Act 1994 (SA)

South Australia Land and Business (Sale and Conveyancing) Act 1994 An Act to regulate the sale of land and businesses and the preparation of conveyancing instruments; and for other purposes.

Contents Part 1—Preliminary 1 Short title 3 Interpretation 4 Meaning of small business Part 2—Contracts for sale of land or businesses 5 Cooling-off 6 Abolition of instalment purchase or rental purchase arrangements 7 Particulars to be supplied to purchaser of land before settlement 8 Particulars to be supplied to purchaser of small business before settlement 9 Verification of vendor's statement 10 Variation of particulars 11 Agent or auctioneer to make statements available before auction 12 Councils, statutory authorities and prescribed bodies to provide information 13 False certificate 13A Prescribed notice to be given to purchaser 14 Offence to contravene Part 15 Remedies 16 Defences 17 Service of vendor's statement etc Part 3—Subdivided land 18 Obligations and offences in relation to subdivided land 19 Inducement to buy subdivided land Part 4—Special requirements relating to agents and sales representatives 20 Authority to act as agent 21 Requirements relating to offers to purchase residential land 22 Person signing document to be given copy 23 Agent not to receive commission if contract avoided or rescinded 24 Agent not to lodge caveat for sums owing by client 24A Representations as to likely selling price in marketing residential land 24B Financial and investment advice 24C Agent to disclose certain benefits connected with sale or purchase 24D Agent not to retain benefits in respect of services associated with sale or purchase of residential land 24E Agent to supply valuation in prescribed circumstances 24F Agent not to act for both purchaser and vendor of land or business 24G Restriction on obtaining beneficial interest in selling or appraising property 24H Agent not to pay commission except to officers or employees or another agent Part 4A—Auctions 24I Standard conditions of auction for residential land 24J Preliminary actions and records required for auctions of residential land 24K Registered bidders only at auctions of residential land 24L Collusive practices at auctions of land or businesses 24M Disruption of auction prohibited 24N Dummy bidding prohibited at auctions of land or businesses 24O When vendor bid by auctioneer permitted 24P Last vendor bid must be identified if property passed in Part 5—Preparation of conveyancing instruments 25 Part 5 subject to transitional provisions 26 Interpretation of Part 5 27 Preparation of conveyancing instrument for fee or reward 28 Preparation of conveyancing instrument by agent or related person 29 Procuring or referring conveyancing business 30 Conveyancer not to act for both parties unless authorised by regulations 31 Effect of contravention Part 6—Miscellaneous 32 Exemptions 33 No exclusion etc of rights conferred or conditions implied or applied by Act 34 Civil remedies unaffected 35 Misrepresentation 36 False or misleading representation 37 Signing on behalf of agent 37A Keeping of records 37B General defence 38 Liability for act or default of officer, employee or agent 39 Offences by bodies corporate 40 Prosecutions 41 Regulations 42 Review of Parts 4 and 4A Schedule—Transitional provisions Legislative history