15 December 2022
The Australian Banking Association (ABA) welcomes the opportunity to provide further feedback on the Queensland Government’s consultation on the Property Law Bill 2022 and Property Law Regulation 2023. The ABA supports some of the revisions to the latest draft of the Bill but remains of the view that flood history data should be contained within the seller’s disclosure statement, particularly in light of repeated flooding events across Australia. It also has concerns with directing prospective buyers to the FloodCheck Queensland and Australian Flood Risk Information portals, where information may be incomplete or incorrect, to understand the flooding history of a property.
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The ABA supports in principle the inclusion of compliance powers in the Electronic Conveyancing National Law (ECNL). However, the ABA considers it critical that the Australian Registrars National Electronic Conveyancing Council (ARNECC) is constituted with the appropriate understanding of the technical and operational details of interoperability, including financial settlement, to enforce its proposed new powers… Read more »
The ABA acknowledges the intent of the RIC in supporting agribusinesses during periods of difficulty, such as natural disaster and drought. While the ABA acknowledges these additional loan categories may be valuable to eligible farmers, we note the RIC was first set up for the purpose of supporting drought affected farmers who may not have… Read more »
The ABA continues to support establishment of the Housing Australia Future Fund as a mechanism to provide a sustainable funding source to support and increase the development of social and affordable housing during a critical period of lower than required housing supply. The ABA acknowledges that other industry factors such as planning, and the cost… Read more »