Clause 4

Where planning permission has been granted on or after 15th April 1976 by the relevant authority in respect of any proposed development of land for strata subdivision after the completion of any building thereon, the registered proprietor thereof shall not sell any flat in the building (whether erected or in the course of erection) unless a schedule of strata units showing the proposed share values to be allotted to all the flats in the building has been filed with and accepted by the Commissioner.(2) A schedule of strata units filed by the registered proprietor on any land pursuant to subsection (1) shall not be accepted by the Commissioner for filing unless he is satisfied that the proposed share values allotted to all the flats in a building referred to in the schedule are allocated in a just and equitable manner.(3) The Commissioner shall consult with the Registrar before accepting any schedule of strata units for filing under this section.(4) Where a flat is sold on or after the commencement of the Land Titles (Strata) (Amendment) Act 1986 in contravention of subsection (1), the purchaser of the flat may, notwithstanding anything contained to the contrary in the contract of sale, at any time before the completion of the sale and purchase rescind the contract of sale and in the event that the purchaser elects to rescind the contract, he shall be entitled to recover all moneys paid by him and shall be entitled to recover damages from the vendor.(5) Every contract made on or after the commencement of the Land Titles (Strata) (Amendment) Act 1986 for the sale of a flat referred to in a schedule of strata units filed with the Commissioner pursuant to subsection (1) shall be deemed to have included therein a term that the registered proprietor of the land has agreed to sell an undivided share in the land on which the building is erected with a value determined in accordance with the proposed share values assigned to each flat shown in the schedule of strata units filed with and accepted by the Commissioner at any time prior to the execution of the contract for sale.(6) Any person who contravenes subsection (1) shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding one year or to both.(7) A schedule of strata units filed with and accepted by the Commissioner prior to the commencement of the Land Titles (Strata) (Amendment) Act 1986 shall be deemed to have been filed with and accepted by the Commissioner pursuant to subsection (1).(8) Where a schedule of strata units has been filed under this section, the proprietor of the land shall as soon as practicable notify the Commissioner of the changes made to the areas of the flats referred to in the schedule of strata units or of the changes made to the common facilities in the building referred to in the schedule and file with the Commissioner an amended schedule of strata units which will take into account the aforesaid changes.(9) An amended schedule of strata units shall not be accepted by the Commissioner for filing purposes unless he is satisfied that the share values allotted to all the flats in a building referred to in the schedule are done so in a just and equitable manner.”.