51. Power to vary terms and conditions

The Board has power to vary the terms and conditions of any application made by an applicant and registered with the Board, whether before or after 5 September 1986, for the sale and purchase of any flat, house or other living accommodation sold subject to the provisions of this Part.

Where an applicant refuses or fails to accept the terms and conditions as varied by the Board under subsection (1), the Board may cancel his or her application and refund the deposit and administrative fees paid by the applicant.

No proceedings shall be instituted in any court by the applicant against the Board to recover any loss suffered, directly or indirectly, by the applicant arising out of or caused by the cancellation of his or her application under subsection (2).[48