Review of Building Industry Regulatory Framework in the Northern Territory
The Minister for Lands and Planning is inviting feedback on a report recently commissioned by the Northern Territory Government titled Review of Building Industry Regulatory Framework in the Northern Territory (Cureton Review).
Since January 2013, the Building Act has included provisions for consumer protection that include:
• requirements for building contracts, such as progress payments and consumer guarantees;
• the Residential Building Cover (Fidelity Fund) that replaces the Home Building Certification Fund (HBCF); and
• processes for dealing with residential building disputes.
There has been dissatisfaction expressed to Government by the home building industry. In addition, a number of residential builders have failed in the past two years, which has resulted in financial defaults to sub-contractors and losses for consumers. Consequently, Government has sought advice on a broader protection model that could apply to consumers and extend to the construction supply chain.
The report covers three key areas:
• Residential Warranty Insurance (the current Fidelity Fund)
• Building Contractors licensing
• Payment protection
The report has been prepared by Mr Cris Cureton from the respected law firm Squire Patton Boggs. Mr Cureton has significant expertise in disputes and major projects law, adjudication, arbitration and mediation; litigation; and public private partnerships amongst others.
The release of the Cureton Review is to stimulate discussion in this important area to ensure the current regulatory framework continues to meet the needs of both consumers and the construction industry.
You can view the full report here.
The Property Council strongly encourages members to have a read of this report and to provide any feedback or comments to [email protected] for inclusion into a submission.