On 1 September 2017 the Conveyancing (Sale of Land)
Regulation 2017 (Regulation) will come into
effect. The Regulation repeals and replaces the Conveyancing
(Sale of Land) Regulation 2010, however the changes will not
affect a contract for the sale of land, or an option to purchase
residential property made before the 1 September 2017.
Additionally, the Conveyancing (Sale of Land) Regulation
2010 will continue to apply to a contract for the sale of land
and any option to purchase residential property entered into on or
after 1 September 2010 and before 1 September 2017.
The Regulation serves to update the Conveyancing (Sale of
Land) Regulation 2010, posing few substantive changes to
regulation. References to legislation has been amended to reflect
legislative changes in the past 7 years, such as a reference to
Strata Schemes Management Act 1996 is now a reference to
the Strata Schemes Management Act 2015.
