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Hi,
Shortly after Legislative changes came into effect on 23rd March 2020 in respect of the Property and Stock Agents Act 2002 and relevant Regulations, NSW Fair Trading published a Statement of Regulatory Intent in respect of the new legislation. As a result we have had a number of requests from agents for ADL to re-instate the superseded Agency Agreements and Tenancy Agreements for a period.
We have sent a communication to NSW Fair Trading requesting their official view on the matter, but as yet have had no response. Such response may be delayed due to the current COVID-19 restrictive measures.
As a result we have sought independent legal advice which is as follows:
The statement by Fair Trading was in respect of the Property and Stock Agents Act 2002 only and as such does NOT relate to Tenancy Agreements or other forms covered under the Residential Tenancies Act 2010.
The intent of the statement was not to allow agents to use non-compliant Property and Stock Agents Act forms for the next 6 months, but to assure agents that incorrect use of or interpretation of the new forms and actions taken by agents regarding the new forms over the next six months will be dealt with leniently by Fair Trading and that 'Fair Trading's overall approach to compliance will be an educative one'.
As such, we will not be republishing superseded forms unless otherwise advised by NSW Fair Trading to do so.
For more information about the new reforms the following links may prove helpful:
Recent Law Reforms
New Residential Tenancy Laws
If you have any questions in regard to the forms changes please send your queries to admin@adlsoftware.com and our team will make their best efforts to address them.
Thank you for your continuing support and patience with regard to this major forms release.
Click on the link below to:
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