Cutting red tape in the real-estate sector — PAMDA repealed
The Queensland government has released the Property Occupations Bill 2013, which is proposed legislation to address a number of property industry concerns about contract disclosures and warning statements and the licensing of real-estate agents and other property professionals.
Since its introduction in 2000, the Property Agents and Motor Dealers Act (known as PAMDA) has been considered by many to be a burdensome piece of legislation that has increased in complexity and technical regulatory requirements over time. For example, the high level of technical compliance in relation to warning statements has produced case law about whether a warning statement bound or stapled to a residential sale contract was considered to be the first page of the contract. There have been concerns raised about PAMDA for quite some time and the introduction of the Property Occupations Bill 2013 is likely to be seen as a welcome relief. The Queensland government is intending to repeal PAMDA and split its content into four separate bills, including the current Property Occupations Bill.
While the government believes the Property Occupations Bill strikes a reasonable balance between consumer protectionism and doing business in the marketplace, it does represent a significant shift away from the current level of consumer protectionism. The bill also goes some way in achieving the Queensland government’s goal of removing unnecessary ‘red tape’ for the real-estate sector…
If you are registered and logged in to the site, click on the link below to read the King & Wood Mallesons briefing. If not, please register or sign in with your details below.
News from King & Wood Mallesons
News from The Lawyer
Briefings from King & Wood Mallesons
Principals and contractors need to be aware that in not registering security interests under the PPSA 2009, they may risk serious consequences.
The New Companies Ordinance (NCO) will come into effect on 3 March 2014. It includes changes that affect the way documents may be executed.
Analysis from The Lawyer
Shanghai’s ground-breaking Pilot Free Trade Zone could mark the beginning of the long-awaited liberalisation of China’s legal services sector.
Hong Kong IPO activity is hotting up again, but UK legal stalwarts are looking over their shoulders as US rivals make up ground fast