SUNDAY, MARCH 3, 1991
THE COMPLETION DATE OF THE BUILDING;
IMPORTANT PROVISIONS OF THE DEED OF MUTUAL COVENANT INCLUDING A DEFINITION OF THE COMMON AREAS, TERMS OF APPOINTMENT OF THE PROPERTY MANAGER, THE BASIS OF FIXING MANAGEMENT FEES AND THE AMOUNT OF MANAGEMENT FEES DEPOSIT;
SPECIFICATION OF
THE LOCATION, NUMBER AND MINIMUM DIMENSIONS OF THE CARPARKING SPACES;
DETAILS OF ANY MISCELLANEOUS PAYMENTS DUE ON DELIVERY OF FLATS;
DATE OF PRINTING OF THE SALES BROCHURE;
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NAMES OF CONTRACTORS AND OTHER AUTHORISED PERSONS; AND
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THE PRICES OF INDIVIDUAL UNITS,
PURCHASE PROCEDURE, TERMS
OF PAYMENT, RESPONSIBILITY FOR LEGAL FEES AND OTHER CHARGES, INSTALMENT PAYMENT METHODS AND INTEREST RATES AND THE NUMBER OF UNITS AVAILABLE FOR SALE.
INFORMATION TO BE DISCLOSED ON REQUEST INCLUDES CONVEYANCING CHARGES AND STAMP DUTIES, A COMPLETE SET OF MASTER LAYOUT PLANS (IF ANY) AND THE BUILDING PLANS APPROVED BY THE BUILDING AUTHORITY, AS WELL AS THE FULI. TEXT OF THE APPROVED DEED OF MUTUAL COVENANT GOVERNING THE DEVELOPMENT.
THE SALES BROCHURE ARE TO BE PUBLISHED NOT LESS THAN ONE WEEK PRIOR TO THE SALE OF THE FLATS. ANY DISCLAIMERS OF THE ACCURACY OF THE INFORMATION WILL OPERATE AS A BREACH OF THE CONDITIONS OF THE CONSENT FOR THE SALE.
COPIES OF THE SALES BROCHURE COMPLYING WITH THE NEW REQUIREMENTS MUST BE LODGED WITH THE CONSUMER COUNCIL AND THE REGISTRAR GENERAL'S DEPARTMENT, AND A STATEMENT
ΤΟ THE EFFECT THAT THIS HAS BEEN DONE MUST BE CONTAINED IN THE SOLICITORS' STATUTORY DECLARATION ACCOMPANYING THE CONSENT APPLICATION.
MR GLEESON SAID HE HAD ISSUED A COMPREHENSIVE LAND OFFICE CIRCULAR MEMORANDUM ON THE SUBJECT WHICH WOULD BE CIRCULATED TO PROPERTY DEVELOPERS AND ALSO TO THE LAW SOCIETY FOR CIRCULATION TO ITS MEMBERS.
HE SAID THE NEW DISCLOSURE REQUIREMENTS WERE DESIGNED BASICALLY FOR THE SALE OF UNITS IN RESIDENTIAL DEVELOPMENTS BUT WOULD BE APPLIED ALSO, WITH APPROPRIATE CHANGES, ΤΟ COMMERCIAL AND INDUSTRIAL DEVELOPMENTS.
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