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Impact on Developers and flow on impacts on Contractors
Author:
Global | Publication | November 2015
The Strata Schemes Development Bill 2015 (Development Bill) and Strata Schemes Management Bill 2015 (Management Bill) were passed by the New South Wales Parliament on 27 October 2015. The changes are expected to start mid-2016.
Our July update highlights the proposed changes to the existing strata laws contained in the bills when they were released for public consultation.
In this article we will look at what impact Part 11 of the Management Bill, dealing with building defects, will have on developers of residential buildings, noting that the detail of how these reforms are to operate will be contained in the regulations, which have not yet been released for public consultation.
Part 11 of the Management Bill when enacted will only apply to residential building works:
Developers will be required to:
The new obligations on developers are likely to be passed down to the head contractor under construction contracts. It is likely that the head contract will pass the new obligations down to its subcontractors:
Developers entering into a contract requiring them to carry out applicable residential building work after the Management Bill is enacted must ensure that their obligations to rectify defects are passed through to the head contractor in the construction contract.
The developer will need to factor in to the cost of the project the additional costs to be incurred in complying with these new obligations, including the costs associated with providing the bond, preparing the interim and final reports, managing the rectification of defects for the prolonged defects liability period, and generally the costs associated with engaging the project team for this extended period.
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