News / The deconstruction of PAMDA /
The deconstruction of PAMDA
8 May 2014
The Property Agents and Motor Dealers Act 2000 (PAMDA) will soon cease to be as the latest legislation in a series of red tape reduction measures was passed by the Queensland Parliament this week.
PAMDA served as a "catch-all" for the regulation of various facets of the real property and used motor dealer industries, debt collectors, auctioneers and process servers, but over time it became apparent that the legislation was becoming cumbersome to administer with a level of complexity that was making it difficult for businesses to use.
With these issues in mind, the Government introduced the following bills into Parliament on 20th November 2013 to essentially split PAMDA into four separate acts:
- Property Occupations Bill 2013
- Motor Dealer and Chattel Auctioneers Bill 2013
- Debt Collectors (Field Agents and Collection Agents) Bill 2013
- Agents Financial Administration Bill 2013
The main focus of the regulatory changes deal with streamlining transactional processes, licensing and appointments with the chief objective of the new legislation being to tailor the laws to the diverse needs of each industry.
It is anticipated that these new acts will become operational later in the year. October 1, 2014 has been touted as a possible date for commencement.
For more information please contact:
Rebecca Castley | Partner
t +61 7 3224 0211
f +61 7 3224 0333