Australian Capital Territory Numbered Regulations

FIRST HOME OWNER GRANT AMENDMENT REGULATION 2009 (NO 2) (NO 33 OF 2009) - REG 4

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3A     First home owner boost––extension of time––Act, s 24C  and s 24D

For each of the following provisions of the Act, the prescribed date is 30 September 2009:

        (a)     section 24C (1);

        (b)     section 24C (3) (a);

        (c)     section 24C (4) (a);

        (d)     section 24D (1) (c).

3B     First home owner boost––modification of Act, s 24C––Act, s 24F (2)

The Act, section 24C applies as if the following subsection were inserted:

    ‘(2A)     Also, an eligible transaction that is a contract for an ‘off-the-plan' purchase of a new home qualifies for the first home owner boost for new homes—

        (a)     if the contract is made on or after 1 July 2009 and on or before 30 September 2009, or a later date prescribed by regulation; and

        (b)     if––

              (i)     the contract includes a provision to the effect that the eligible transaction must be completed before 1 April 2011; or

              (ii)     the eligible transaction is completed before 1 April 2011, or a later date the commissioner allows if satisfied on reasonable grounds that there are exceptional circumstances that prevented completion before 1 April 2011.'