defects bond scheme

The Building Products (Safety) Act 2017 commenced on 18th December 2017. The Act is part of the NSW Government’s plan for fire safety following the Grenfell Tower fire in London in June 2017. The external cladding on the tower is believed to have accelerated the spread of fire in the building. Under the Act, NSW Fair Trading may ban a specific building product if it is deemed unsafe. Accordingly, building owners will be required to rectify their building where unsafe building product has been installed. Owners Corporations will need to include particulars of outstanding building product rectification under the Strata Schemes Management Act 2015. The contravention of a building product ban is an offence and may result in fines and/or imprisonment. Read more.

Leave a Reply

%d bloggers like this: