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Illegal or invalid? And what kind of error do you propose you've found that rises to that level?

I would be advising the agent that you've discovered that the contract is a poorly edited version of an old REIV contract, and that as it contains erroneous references, you won't be signing. I'd also write to the REIV and include a copy of the contract. I imagine they're very interested in the...

If what you say about the REIV contract is true - I don't disbelieve you, I just haven't seen it - then it's astonishing to me that they haven't picked those things up and corrected them. They're unlikely to impact on your lease but a first-year law student should have picked those up on review.