
Publication
Investigations update and horizon scan: March 2021
Welcome to our February 2021 investigations horizon scan.
Global | Publication | July 2016
The New South Wales Government has announced that the reforms to strata law will come into effect from November 30, 2016.
The reforms are a culmination of public consultation over the past 5 years and comprise approximately 90 key amendments to existing strata law. These reforms have manifested themselves in the Strata Schemes (Management) Act 2015 (NSW) and the Strata Schemes (Development) Act 2015 (NSW).
We have previously prepared two articles setting out a high level review of these reforms which can be found at:
We set out in this article a brief overview of some of the likely impacts these amendments will have on Owners Corporations and property rights for lot owners.
Although November 30, 2016 is the key date, enforcement of the building defects bond scheme (including mandatory defect inspection reports and lodgement of building bonds) has been delayed until July 1, 2017. As new Australian Standards for inspections of group title buildings will be finalised by then, the NSW Government has decided to provide industry and other stakeholders with additional time to adequately prepare.
Given current estimates by the NSW State Government that 50 per cent of the NSW population will either be living or working in strata properties, understanding these reforms is crucial for both developers and investors to capitalise on opportunities both now and in the future.
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Welcome to our February 2021 investigations horizon scan.
Publication
The Native Title Legislation Amendment Bill 2021 (the Amendment Bill) finally passed on 3 February 2021, and will commence in a staged manner, with the latest commencement date being in August 2021.
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The Clean Energy Regulator (CER) has issued a consultation paper on a new Corporate Emissions Reduction Transparency report (CERT report) that will be relevant to Australian companies that report emissions under the National Greenhouse and Energy Reporting scheme (NGER).
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