Amendments have been made to the Building Energy Efficiency Disclosure Act 2010 and its subordinate legislation, which includes the:
- Building Energy Efficiency Disclosure Regulations 2010
- Building Energy Efficiency Disclosure (Disclosure Affected Buildings) Determination 2015
- Building Energy Efficiency Disclosure Determination 2015
These amendments vary from improving administrative arrangements to streamlining regulatory obligations for business. Key changes include:
- Providing exemptions to building owners who receive unsolicited offers for the sale or lease of their office space. This will lead to $0.3 million estimated reduction of regulatory burden on business.
- Allowing transactions between wholly-owned subsidiaries to be excluded from disclosure obligations. This will also lead to $0.3 million estimated reduction of regulatory burden on business.
- Addressing ambiguity in the Act in relation to the status of assessments undertaken by assessors accredited under the NABERS program, but not accredited under the CBD program.
- Introducing the ability to determine a commencement date for a BEEC which is later than the date of issue.
- Removing the need for new owners and lessors to reapply or pay for the application for fresh exemptions if there is an existing one in place for a building.
- Removing the requirement for six pages of standard energy efficiency guidance text in the BEEC and instead providing this information online in a live and interactive format.
The changes will affect assessors, building owners, lessors, lessees, real estate agents and other property stakeholders in a variety of ways. Please read the Guidance Note for more information about how these amendments may affect you so you are able to advise your clients accordingly.