362EPurpose of regulations under section 362D

1. The purpose of regulations prescribing disclosure information under section 362D(2)(a) is to give a client information about a building contractor, and the prescribed disclosure information may include (but is not limited to) information relating to the following:

2. the legal status of the building contractor, for example, whether the building contractor is an individual, a partnership, or a limited liability company:
3. the dispute history of the building contractor:
4. the skills, qualifications, and licensing status of the building practitioners who will be doing the building work:
5. if the building contractor is a limited liability company, the role of each director and the business history of each director.

6. The purpose of regulations prescribing a checklist under section 362D(2)(b) is to provide guidance to a client on the matters that a client should take into consideration when entering into a residential building contract, and the prescribed checklist may include (but is not limited to) the following:

7. an explanation of the legal obligations of both the client and the building contractor in relation to the building work:
8. an outline of the risks associated with payment in advance of completion of the building work:
9. a summary of dispute resolution options:
10. a list of sources for further advice and information.

Notes

• Section 362E: inserted, on 1 January 2015, by section 56 of the Building Amendment Act 2013 (2013 No 100).