Applying the Rolls Royce treatment to limitation of liability clauses
The interplay between limitation of liability and set-off clauses When drafting limitation of liability clauses, it is important to consider what ‘liability’ is being limited and whether the limitation of liability (the ‘cap’) will apply to the total net liability after all set-offs are reconciled or whether the cap will apply separately to the liabilities […]
ReadmoreThe Victorian Building Authority to be reincarnated as the Building & Plumbing Commission
The Victorian Government has announced plans to bring together the Victorian Building Authority (VBA) with the Domestic Building Disputes Resolution Victoria, and the Domestic Building Insurance (DBI) function of the Victorian Managed Insurance Authority. The new regulator will be named the Building & Plumbing Commission. This announcement comes after Weir Legal and Consulting released their […]
ReadmoreKey developments in Victorian Security of Payment legislation – 10 reforms to watch
The Victorian Government recently issued a response confirming its support for all 28 of the recommended reforms to the Building and Construction Industry Security of Payment Act 2002 (Vic) (SOP Act) following a parliamentary inquiry in 2023. Security of Payment legislation regulates payment processes and payment disputes within the construction industry. It aims to ensure […]
ReadmoreDevelopers don’t look away now…the week that was
Last year the Victorian State Government announced ambitious housing targets, committing to delivering 800,000 dwellings in greater Melbourne over the next 10 years, plus 425,600 new homes for regional Victoria by 2051. Under increasing pressure to meet these targets, the Government has had a bumper week of housing-related announcements. The Gadens Real Estate & Construction […]
ReadmoreDuties update: Purchasing land in NSW for $20 million or more – Revenue NSW’s updated assessment process
Revenue NSW is introducing a new duty assessment process for transactions with a dutiable value of $20 million or more, which may affect timeframes for purchasers to receive their duty assessment from Revenue NSW. What is changing? Revenue NSW is transitioning its assessment process for transactions involving agreements or contracts for the sale of land […]
ReadmoreIs the finality of arbitrations now a myth for apportionable claims?
Proportionate liability now applies to the substantive law of arbitrations in Australia The finality of arbitrations is now a myth – at least in respect of disputes involving apportionable claims where parties have not contracted out of the proportionate liability regime. When parties to a commercial contract select arbitration as a forum for resolution of […]
ReadmoreOliver Hume decision – Independent investors charged with aggregated landholder duty on capital raising
The Victorian Court of Appeal has recently handed down its unanimous decision in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175. The Court of Appeal found that 18 independent and unrelated investors who subscribed for shares under a publicly available information memorandum were held […]
ReadmoreStrata developers in NSW spared increase in bond payments until November 2024
Amendments to the Strata Schemes Management Regulation 2016 – bond increase to 3% delayed until 2 November 2024 Under section 207 of the Strata Schemes Management Act 2015 (NSW) (Act), prior to applying for an Occupation Certificate, the developer of a strata scheme is required to provide security (called a ‘building bond’) equal to 2% […]
ReadmoreThe new DBP Act amendments – insurance requirements for Builders remain exempt until 1 July 2025
Amendments to the DBP Act – further 12 month reprieve for DBP Act insurance requirements for Builders Under the Design and Building Practitioners Act 2020 (NSW) (DBP Act), it is a condition of registration for design and building practitioners that they are ‘adequately insured’ against liabilities arising under the DBP Act including as a result […]
ReadmoreUnpacking the possible engineered stone ban and its shake-up on construction contracts
Most of the Australian standard form construction contracts make provision for contractors to comply with ‘legislative requirements’ which are typically broadly defined to include, for example: acts, Ordinances, regulations, by-laws, orders, awards and proclamations of the jurisdiction where WUC or the particular part thereof is being carried out; certificates, licences, consents, permits, approvals and requirements […]
ReadmoreThe City of Melbourne Street Network is Changing – Have your say on the Future Streets Framework
The City of Melbourne (Council) has proposed the Future Streets Framework (Framework). The Framework seeks to implement the strategic directions of the Transport Strategy 2030, which seeks to reallocate more space to people walking and cycling in the Melbourne CBD, reduce central city through-traffic and transform precincts around major transport interchanges into pedestrian thoroughfares. New […]
ReadmoreWhen claiming statutory debts under the Security of Payment Act may not be a slam dunk
It is well established policy now enshrined under the Building and Construction Industry Security of Payment Act 1999 (NSW) (SOPA) that for the construction industry to remain sustainable, subcontractors and suppliers must have regular and reliable access to cashflow. Aside from limited circumstances[1], the risk of insolvency (of either party) rests with the payor (recipient […]
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