To be an effective regulator, our consumer law framework must continue to evolve with the changing market. We lead and participate in policy and legislative reviews, and work in partnership with other regulators and organisations, to ensure our consumer law framework supports a fair and competitive marketplace.
We implemented new laws to address underquoting on properties for sale, with the implementation of the Estate Agents Amendment (Underquoting) Act 2016 in May 2017.
The Consumer Acts Amendment Act 2017 received royal assent in May 2017. This legislation will amend the Associations Incorporation Reform Act 2012, enabling the Consumer Affairs Minister to exempt an incorporated association or class of associations from annual financial reporting requirements if they are also registered with and reporting to another regulator. We intend to use this new provision to remove separate reporting requirements where incorporated associations are registered with the Australian Charities and Not-for-profits Commission.
Significant reforms to strengthen the domestic building consumer protection framework were introduced, with Domestic Building Dispute Resolution Victoria commencing in April.
We are currently considering stakeholder feedback in developing policy proposals arising from the Consumer Property Law Review to reform the Owners Corporation Act 2006, Sale of Land Act 1962, Estate Agents Act 1980 and Conveyancers Act 2006.
Significant activity was undertaken in the review of the Australian Consumer Law and the Residential Tenancies Act 1997, which will continue in 2017-18.
We launched the Consumer Policy Research Centre, an independent and not-for-profit centre to research issues important to Victorian consumers and inform the development of policy and services.