LEASING l Issue No. 04 l Building Energy Efficiency Disclosure Amendment Act 2015 May 2015 The Building Efficiency Disclosure Act 2010 (Cth) (the Act) established a National Energy Efficiency Disclosure Scheme for sellers and landlords of commercial office buildings. The Act requires energy efficiency information to be disclosed in most cases when commercial office space of 2,000 square metres or more is offered for sale or lease. The Act aims to ensure that credible and meaningful energy efficiency information is given to prospective purchasers and lessees of large commercial office space. This information required to be provided is intended to assist purchasers and lessees to make informed decisions and take full account of the economic costs and environmental impacts associated with operating the buildings which they are intending to purchase or lease. The regime requires that a seller or landlord must obtain and register a full Building Energy Efficiency Certificate (BEEC) when selling or leasing the building or an area within a building. The BEEC has three components: 1 an energy efficiency star rating for the office building; 2 information about the energy efficiency of the office lighting; and 3 generic guidelines on how the energy efficiency of the office may be improved. Since the establishment of the Scheme a number of proposed changes have been raised through regular forums with key industry stakeholders to improve the Scheme. Those changes have manifested in the passing of the Building Energy Efficiency Disclosure Amendment Act 2015. Major changes contained in the amending Act include: providing exemptions to building owners who receive unsolicited offers for the sale of their office space; allowing transactions between wholly owned subsidiaries to be excluded from the disclosure obligations; introducing the ability to determine a commencement date for a Building Energy Efficiency Certificate (BEEC) which is later than the date of issue; Mullins Lawyers l eNews Publications l Page 1 removing the need for new owners and landlords to reapply or pay the application fee for fresh exemptions if there is a valid exemption already in place for the building; removing the requirement for six pages of standard energy efficiency guidance text on the BEEC. Instead live and interactive online information about improving energy efficiency for office buildings will be put in place. These changes will commence 1 July 2015 and it is hoped that these amendments will streamline the administration of the Act and reduce the regulatory burden on businesses. If you are unsure of whether the current legislation affects you or want more information on the changes to the Act, please do not hesitate to contact our office Fiona Sears Senior Associate Mullins Lawyers t +61 7 3224 0272 fsears@mullinslaw.com.au Rebecca Castley Partner Mullins Lawyers t +61 7 3224 0211 rcastley@mullinslaw.com.au
© Copyright 2024