The Federal Government has announced its intention to pass legislation under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement and the contract has been rescinded or terminated. The main legislative issue for developers is what currently constitutes a new dwelling. Under …
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2016 - articles & insights
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Building Energy Efficiency Certificates (BEEC) – changes from 2017
The position regarding Building Energy Efficiency Certificates (BEEC) in Australia is in a transition phase as a result of changes to the Commercial Building Disclosure Program (CBDP), which exists under the Building Energy Efficiency Disclosure Act 2010. Currently, lessors are required to provide energy efficient information when they lease or sell commercial office space of …
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Construction, Property & Projects Insights Issue 5 – November 2016
In this issue, we look at the following key developments in construction, property & projects law: Security of Payments Goes to the High Court Unfair Contract Terms in the Construction Industry – You Need to Take Action New Strata Laws and Building Bond Regime Set to Commence Loose Lips Sink Ships – Representations During Negotiations …
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Proposed changes to retail leasing legislation – what you need to know
On 8 November 2016, the NSW government introduced the Retail Leases Amendment (Review) Bill 2016 (Bill), which seeks to amend the Retail Leases Act 1994 (Act). The Bill provides further protection to a lessee consistent with the general legal environment of increased ‘consumer’ and small business protection. This article examines some of the key changes …
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Vincent Young Annual Luncheon – Est.
On Friday 14th October 2016, Vincent Young hosted its Annual Luncheon at Est. Our Annual Luncheon is an opportunity for us to thank our existing clients as well as get to know companies and businesses we admire and would like to work with in the future. The luncheon featured speeches from Carolyn Cummins, the Commercial Property Editor …
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New Strata Renewal Process Soon To Take Effect Under Part 10 Strata Schemes Development Act 2015
Part 10 of the Strata Schemes Development Act 2015 (Act) prescribes a process for strata renewal. Part 10 commenced on 30 November 2016. The Part 10 process enables the owners in a strata scheme to seek a Court order for one of 2 options: the “collective sale” of all apartments in that strata scheme for …
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Loose Lips Sink Ships – Representations During Negotiations
Crown Melbourne Ltd v Cosmopolitan Hotel (Vic) Pty Ltd [2016] HCA 26 This Victorian case illustrates the problem with talking loosely during negotiations. The case worked its way from the Victorian Civil & Administrative Tribunal (VCAT), through the Victorian Court of Appeal and finally to the full bench of the High Court. The Facts The …
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Unfair Contract Terms in the Construction Industry – You Need to Take Action
Unfair Contract Terms in the Construction Industry – You Need to Take Action In November 2016 new legislative changes will see negotiating power swing away from larger businesses towards small businesses. This article looks at: the changes to the Australian Consumer Law which will extend unfair contract protections to small businesses (less than 20 people …
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New strata building bond scheme is set to commence 1 July 2017
What is the Building Bond Scheme? The building bond scheme is a regime whereby developers of residential strata schemes have to: lodge a bond with the Department of Finance, Services and Innovation (DFSI); and arrange for defects inspections within the strata scheme after completion of the building work. Does the Building Bond Scheme Apply to …
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Construction, Property & Projects Insights Issue 4 – June 2016
In this issue, we look at the following key developments in construction, property & projects law: Contractual Clauses Limiting the Accrual of Reference Dates or a Right to a Progress Payment | Are Your Clauses Void? Supreme Court Overturns Adjudication Determination for Failure to Apply LDs Case Law Developments | Required Form of a Supporting …
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