Two ACT Developer directors banned by ASIC
One of the smallest strata states seems to be running at the front of Australian strata building defects reform and action.
Last year I posted about proposed reforms in 2024 about the quality of construction and strata apartment developer controls in ACT as you can read here.
Property developer licensing to be introduced in ACT
It looks like the ACT is trying to outdo NSW’s Building Commissioner with new proposals to regulate #stratatitle property development including a few radical ideas in the Property Developers Bill 2023. Here’s a sample of the new controls. Property developers will be licensed [an Australian first].
Now @CanberraTimes reports that 2 directors of strata development company 3 Property Group have been disqualified from managing corporations for 2 years as a result of thier management of financial failure of the company.
In one sense a 2 year bans isn’t much of a penalty, but compared to the past nothingness, it’s significant. Plus, public ‘perp walks’ of offenders have a significant deterrent effect on others as these directors attempts to suppress disclosure of their ban proves.
Maybe we need more of this kind of public action in relation to ‘dodgy developers’.
You can read the @CanberraTimes news stories here and here.
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