66U   Cooling off rights

(1)  The purchaser under a contract for the sale of residential property may serve a written notice to the effect that the purchaser rescinds the contract.

(2)  The notice may only be served during the cooling off period, but is ineffective if served after completion.

(3)  The notice of rescission must be signed by:

(a)  the purchaser or the purchaser’s solicitor, or

(b)  if there is more than one purchaser, each of the purchasers or their respective solicitors.

(4)  The notice of rescission must be served on:

(a)  the vendor or the vendor’s solicitor, or

(b)  if there is more than one vendor, any one of the vendors or the solicitor of any of them, or

(c)  the agent of the vendor or vendors.

(5)  Service of a notice under this section may be effected in accordance with section 170 or at the address of the vendor shown in the contract or (without affecting the foregoing) by facsimile transmission or in accordance with the service provisions in the contract.