Changes to the Conveyancing Act 1919 (NSW) apply
retrospectively from 2 November 2015
We recently informed you of the NSW government's intention
to tighten its grip on property development regulations,
specifically in relation to sunset clauses.
On 17 November 2015 the Conveyancing Amendment (Sunset
Clauses) Act 2015 (NSW) was passed in Parliament to provide
increased protection to purchasers by preventing developers from
unreasonably rescinding off-the-plan contracts for residential
property under a sunset clause.
These changes are effective retrospectively from 2 November 2015
(the date Victor Dominello introduced the reforms to Parliament) to
prevent a rush of rescissions prior to the formal commencement of
the legislation. In accordance with the new provisions, a vendor
must give a purchaser notice in writing at least 28 days prior to
rescission under a sunset clause. The notice must state why the
vendor is proposing to rescind and give reasons for the delay
