The latest changes have been brought about by the Consumer Affairs Legislation Amendment (Reform) Act 2010. The Act amended the Sale of Land Act 1962 (Vic), by:
• the removal of the ability for deposits to be held in vendor/purchaser joint accounts for off‐the‐plan sales, and
• providing for cooling off rights where clients have received pre‐contractual advice from a legal practitioner.
These changes came into operation on 1 March 2012.
W G Stark