Ongoing Legislation process Keeps Pace With Industry Growth
The Queensland parliament’s legislative program for the administration of the state’s residential and holiday property industries continues to progress to ensure that all stakeholders have protection of their assets and investments.
The recent passage of the new property legislation reforms has meant that there is a significant transition period currently underway as the five new acts created out of the old Property Agents and Motor Dealers Act progress through the development of the operational regulations. While in the meantime there is a separate activity being undertaken by the Property Law Review Committee, an independent research group established at QUT by the state government is continuing its review and will report to the government as part of the ongoing legislative review of the Body Corporate and Community Management Act.
The break-up of the old PAMDA legislation which has been welcomed by all industry sectors, requires a whole range of new regulations and forms to take up its operational responsibilities. At the present time the Office of Fair Trading is developing the new regulations and supporting documentation to support the operations of the legislation for the day to day administration.
We can expect that the new Property Occupations Act and the other property legislation will become operational towards the end of the year with the new regulations, forms and process requirements regulations formally tabled in the parliament for final approval and agreement to the commencement date for the new legislations. As part of this process, OFT and industry groups such as ARAMA will be staging workshops for members to assist them with the process and other requirements in all aspects of management rights administration and the professional requirements for resident accommodation managers and their staff.
The OFT has a very comprehensive website explaining all their legislation and it will continue to provide easy to follow guides in regards to the regulations and administrative requirements contained in the new acts which have been designed to meet current day conditions.
We look forward to the commencement of the operations of the Property Occupations Act and the Agents Financial Administration Act in the next few months.
ARAMA and other groups are continuing to work with the QUT Property Law Review Committee and its work which will develop in detail the various elements of the BCCM legislation and the ongoing growth in high density living options being created in the state’s accommodation industry. It is important that in such a dynamic and important industry sector, that the issues and opportunities that continue to emerge as a result of new living interests and technology are covered and protected by modern and effective legislation that reflects the real life needs of all those involved in the industry and owners and residents. The QUT team will identify all the industry advocacy groups to ensure that all interested sectors are included in the review process.
This will result in the development of a current and detailed broad industry discussion paper dealing comprehensively with all stages of development and formation of the structure of bodies corporate and the diversity of management and administration of the various types of scheme that will be controlled under the legislation.
We at ARAMA have been very thankful for the opportunity to meet with the study group and their comprehensive and practical approach to the issues pertaining to the management rights industry and the role and responsibilities of resident managers in all of the various sectors in which our members are involved. The committee’s approach has been aimed at providing clear and concise administrative processes which are accountable and fair to all parties in seeking to eliminate any areas of ambiguity and uncertainty through proper identification of community living expectations and standards. ARAMA will continue our consultation program within our membership and with our colleagues in other parts of Australia and internationally.
More than one fifth of Americans are currently living in community type complexes and Queensland laws have already been adopted in many Asian and Pacific Rim area community living complexes.
We will seek to ensure that we are able to provide up to date industry information and trends to meet the QUT team timetable. The QUT team report will be submitted to the state government for consideration in the upcoming review of the BCCM Act in line with the legislative program.
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