GST

(3) extends the examination period for the FIRB Application beyond the FIRB Approval Date by issuing an interim order under section 68 of the Takeovers Act;

then the Purchaser may, within 4 days after the FIRB Approval Date, terminate this Contract by written notice to the Vendor. In that event, all moneys paid by the Purchaser under this Contract must be refunded to the Purchaser. If the Purchaser does not terminate this Contract within 4 days after the FIRB Approval Date, the Vendor may, at any time after the FIRB Approval Date, but before the Purchaser provides evidence that FIRB has granted its approval to the FIRB Application, terminate this Contract by notice in writing to the Purchaser. In that event, and subject always to Special Condition 13.7, all moneys paid by the Purchaser under this Contract must be refunded to the Purchaser.

Where conditional approval given

(1) The Purchaser acknowledges that the Treasurer may grant approval to the FIRB Application subject to a condition to the effect that the Purchaser builds or causes a dwelling to be built and completed on the Property within specified time frames. The Purchaser confirms and agrees that such a condition is a condition which is satisfactory and acceptable to the Purchaser.

(2) If the Treasurer makes a conditional order or approval with conditions that are satisfactory to the Purchaser, then the Purchaser must use its best endeavours to comply with the conditions.

Breach by Purchaser

For the avoidance of doubt, the parties confirm and agree that if:

(1) the Purchaser breaches any part of Special Condition 13.2 or 13.3; or

(2) due to any action or inaction by the Purchaser, the FIRB Application is not lodged within 7 days after the Day of Sale; or

(3) the circumstances described in Special Conditions 13.5(1), 13.5(2), or 13.5(3) apply as a result of the Purchaser’s action or inaction; or

(4) the Purchaser would, for any reason whatsoever, be in breach of the Takeovers Act by entering into this Contract or by effecting Settlement;

then the Vendor will be entitled to immediately terminate this Contract by notice in writing to the Purchaser. In that event, the Purchaser will not be entitled to a refund of the monies paid by the Purchaser, and such monies will instead be forfeited to the Vendor.

Provide evidence at Settlement

If this Contract is to proceed to Settlement, the Purchaser must, at or before Settlement, or within 3 days of the Vendor’s demand, provide written evidence to the Vendor that FIRB Approval has been granted. If the Purchaser fails to comply with this Special Condition 13.8, the Purchaser is in default under this Contract.

Indemnity

The Purchaser indemnifies the Vendor against any Loss or Claim that the Vendor suffers, incurs or is liable for as a result of any breach of any provision of this Special Condition 13.

PURCHASER’S WARRANTIES CONCERNING FUNDS

Source of funds

The Purchaser represents and warrants that:

(1) the Purchaser is not illegally transferring funds from the People’s Republic of China (“PRC”) to pay the Deposit;

(2) at Settlement, the Purchaser is not and will not be illegally transferring funds from PRC to pay the balance of the Price; and

(3) the Purchaser has access to sufficient funds in a location outside of the PRC to enable the Purchaser to pay the balance of the Price at Settlement.

Compliance with anti-money laundering sanctions and Laws

The Purchaser represents and warrants that by entering into this Contract and the transactions contemplated by this Contract, the Purchaser is not in breach of:

(1) any applicable Laws in the PRC; and/or

(2) any other legal prohibitions on money laundering, trade control and sanctions, which are applicable to the performance of this Contract (including by virtue of the place of domicile or operations of the parties to this Contract and/or their respective Related Bodies Corporate).

SETTLEMENT AND TRANSFER

Settlement

(1) The parties must effect Settlement on or before 3.00pm on the Due Date for Settlement at a time nominated by the Vendor.

(2) If Settlement takes place on the Due Date for Settlement but at a time after 3.00pm, Settlement is deemed to have taken place on the next Business Day. The Purchaser is taken to have defaulted in payment of the Price unless it is solely due to the default of the Vendor that Settlement takes place after 3.00pm on the Due Date for Settlement.

Transfer

The Purchaser must prepare the Transfer and deliver the Transfer to the Vendor's Lawyers at least 10 Business Days before the Due Date for Settlement. If the Purchaser fails to do so: