Are you across the groundbreaking new Property Developers Act 2024 (ACT) and its implications including a swathe of new duties and liabilities? Aimed at curbing building defects and unethical developer practices, the Act introduces unprecedented measures including personal liability for directors, retrospective rectification orders and additional licencing requirements. Unpack the extensive implications for developers in the ACT, look to the future of advice to property developer clients and consider this pioneering legislation and its implications.
Description
Attend and earn 1 CPD unit in Substantive Law
This program is based on ACT legislation
1.00pm to 2.00pm NEW LEGISLATION ALERT: Property Developers Act 2024 (ACT)
- Background & objectives of new framework:
- Concerns regarding liability gap for developers within existing regulatory framework for construction works
- Consumer rights and increased frequency of rectification projects across the ACT
- Construction industry insolvencies
- Summary of key changes to the Bill since first introduced:
- Removal of retrospective application for rectification orders
- Clarification regarding scope of application
- Meaning of “property developer”
- Meaning of “regulated residential buildings”
- Availability of ACAT review of decisions to issue rectification orders and stop work orders
- Other amendments to avoid regulatory overlap
- Licensing requirements:
- When a licence is required
- Meaning of “suitable person”
- Rating reports
- Conditions on licences
- Defects rectification:
- Power for the Registrar to issue rectification orders and stop work orders
- Defects liability periods for defective building work and serious defects
- Reviewability of the Registrar’s decisions (internal review and ACAT review)
- Thresholds for personal liability
- Consequential amendments
- Legal consequences: potential implications and unknowns
- Mixed-use developments
- Structuring
- Scope of application
- Apportionment of liability in contracts between builders and developers
- Interpretation and operation of strict liability offences
- Non-reviewability of adverse rating reports
- Defects liability periods in off-the-plan contracts
- Liability and enforceability of rectification orders unaffected by pre-existing legal actions
- Other (not strictly legal) considerations
- Insights from other jurisdictions
Presented by Peter Dascarolis, Partner, Terracon
Presenters
Peter Dascarolis, Partner, Terracon
Peter has a decade of experience acting on a range of structured property transactions, in which he has assisted with the leasing, divestment, acquisition, and development of real property. Peter started his career at Trinity Law in Canberra working for private development groups before joining Blake Dawson (now Ashurst) in 2011. Peter then relocated to Mills Oakley as one of the first nine employees to open the firm’s office in Canberra. Peter was one of just eight finalists nationally in the “Young Gun of the Year” category at the 2015 Australian Law Awards. In April 2018, Peter made the move to open a boutique property firm, Terracon Legal.
