Legislative property framework replaced today. Welcome POA!

December, 2014

Commencing today, 1 December 2014, the Property Agents and Motor Dealers Act 2000 (PAMDA) has been replaced by the following four pieces of legislation:

The Attorney-General and Minister for Justice Jarrod Bleijie MP has also announced that the Land Sales and Other Legislation Amendment Act 2014 will commence next Monday 8 December.

Significants of the POA

The POA introduces a number of significant changes which will affect sales contracts and real estate agent appointments, amongst other things. In particular practitioners should note PAMDA:

No Transitional Timeline

There is no transitional timeline for the commencement of the POA.

Buyers and sellers of property should be aware that as of today all property contracts will be governed by the new provisions under the POA.

Sellers must re-issue all contracts and disclosure statements issued before 1 December 2014 in the new prescribed forms under the POA and accompanying regulations.

Property developers must also comply with new disclosure obligations while cooling off periods may no longer be available to certain public companies.

Contact Mills Oakley

For further information on this publication please contact:

Melbourne


James Price | Partner 
T: +61 3 9605 0824
E: jprice@millsoakley.com.au


Anthony Brearley | Partner
T: +61 3 9605 0810
E: abrearley@millsoakley.com.au


Tom Cantwell | Partner
T: +61 3 9605 0958
E: tcantwell@millsoakley.com.au

luke-westmore

Luke Westmore | Partner
T: +61 3 9605 0061
E: lwestmore@millsoakley.com.au

Brisbane

tony-butler

Tony Butler | Partner 
T: +61 7 3228 0432
E: tbutler@millsoakley.com.au

Sydney


lachlan-paterson

Lachlan Paterson | Partner
T: +61 2 8289 5895
E: lpaterson@millsoakley.com.au

Catherine Hallgath | Partner
T: +61 2 8289 5806
E: challgath@millsoakley.com.au

Tim L’Orange | Partner 
T: +61 2 8289 5816
E: tlorange@millsoakley.com.au

Canberra

adam-peppinck

Adam Peppinck | Partner
T: +61 2 6196 5203
E: apeppinck@millsoakley.com.au

Perth

andrew-logan

Andrew Logan | Partner
T: +61 8 6167 9802
E: alogan@millsoakley.com.au

patrick-thaung

Patrick Thaung | Partner
T: +61 8  6167 9803
E: pthaung@millsoakley.com.au

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