Page 4157 - Week 11 - Thursday, 21 September 2017
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video
(3) What information did the Minister rely on to inform the Select Committee on Estimates in a Question on Notice on 5 July that the sale had been settled on 26 June and what information did the Minister receive after 5 July about the settlement date.
(4) Is the Suburban Land Authority or the former Land Development Agency in dispute with the FOY Group regarding the sale of the block.
(5) What steps has the Government taken or directed to the Suburban Land Authority (or the former Land Development Agency) to facilitate completion of this contract for sale.
(6) What are the terms, including financial penalties, of failure to complete the contract for sale.
(7) Has the Government (or the Suburban Land Authority or the former Land Development Agency) demanded a completion of the contract for sale.
(8) Has the Government (or the Suburban Land Authority or the former Land Development Agency) pursued any financial penalty as a result of the FOY Group’s failure to complete the contract for sale; if not, why not.
(9) Will the Government (or the Suburban Land Authority or the former Land Development Agency) retain the deposit if the sale fails to complete.
(10) What is the Government’s (or the Suburban Land Authority or the former Land Development Agency’s) plans with the block if the FOY Group abandons its obligation to complete the contract for sale.
Ms Berry: The answer to the member’s question is as follows:
(1) Settlement was originally scheduled for 26 June 2017.
(2) No. FOY was not ready and able to settle on this date.
(3) The response provided referred to the scheduled settlement date. Following FOY’s failure to settle, advice was provided to me on the status of the Contract. The response to QTON E17 330 of 5 July 2017 was subsequently replaced with a revised response on 17 July 2017, however the information on the scheduled settlement date is correct in both versions.
(4) The transaction remains subject to a settlement process under contract. While not a ‘dispute’ this is a legal process.
(5) The ACT Government Solicitor’s Office acts for the Suburban Land Agency in this matter and has been instructed to pursue settlement in accordance with the Contract. As per the Suburban Land Agency’s policy, requests for extension have been considered by the appropriate delegate and assessed.
• The original settlement date of 26 June 2017 was not met by FOY.
• As per the requirements of the Contract, a Notice to Complete was then issued requiring settlement on or before 18 July 2017.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video