59BExemption from insurance—build to rent schemes

59B Exemption from insurance—build to rent schemes

59B Exemption from insurance—build to rent schemes

(1) The holder of a contractor licence who does residential building work is exempt from the requirements of the Act, Part 6 if—

(a) the work is being done—

(i) in accordance with development consent granted under State Environmental Planning Policy (Housing) 2021, Chapter 3, Part 4, or

(ii) to an existing dwelling built in accordance with development consent granted under State Environmental Planning Policy (Housing) 2021, Chapter 3, Part 4 and the contract is entered into within 8 years of the issue of the occupation certificate for the dwelling, or

(iii) to a building that is being used as a build to rent property and the contract is entered into within 8 years of the making of an application for reduction in the assessable value of the land for the purpose of the Land Tax Management Act 1956, section 9E, and

(b) the contract for the work states that the holder is relying on the exemption under this clause.

(2) In this clause—

occupation certificate has the same meaning as it has in the Environmental Planning and Assessment Act 1979.

cl 59B: Ins 2023 (100), Sch 1[2].