I move amendment No. 100:
In page 83, subsection (2), line 18, to delete "subsection" and substitute "section".
This is a drafting amendment.
SECTION 93.
Amendment agreed to.
I move amendment No. 101:
In page 84, subsection (3)(b), lines 13 and 14, to delete "if the vendor's estimate were equal to the submitted value" and substitute "if the submitted value were equal to the vendor's estimate".
In certain circumstances the vendor and the purchaser are each required to submit their estimate of the value attributable to residential property. If the residential portion is undervalued by more than 10 per cent, a surcharge will be payable and the purchaser can recoup some of that surcharge from the vendor.
The purpose of the second proviso is to limit the amount of surcharge the purchaser can recoup from the vendor — in short, the more accurate the vendor's estimate, the less the purchaser can recoup. This amendment ensures that this objective is achieved.
Amendment agreed to.
Section 93, as amended, agreed to.
Section 94 agreed to.