1. www.simpsongrierson.com Local Authority Property Association Legislative Update 2014 Phillip Merfield and Donna Hurley 5 November 2014

2. www.simpsongrierson.com Introduction Outline of legislative changes affecting property: –Local Government Act 2002 –Statutes Amendment Bill (No 4) –Real Estate Agents Act 2008 –Fair Trading Act 1986 Proposed legislative changes to Valuers Act 1948

3. www.simpsongrierson.com LGA 02 Amendment Act 2014 came into effect on 8 August 2014 key changes concerning decision- making: –significance and engagement policy –assess advantages and disadvantages of options –more flexibility for special consultative procedure –requirements to consult in accordance with, or in a manner that gives effect to, section 82 –changes to consultation for long- term plans and annual plans

4. www.simpsongrierson.com LGA 02 Amendment Act 2014 Other important changes –Development contributions –Delivery of services review –Local boards –Infrastructure strategy –Electronic meeting attendance

5. www.simpsongrierson.com Statutes Amendment Bill No 4 Changes affecting local authorities –Local Government Act 1974 (temporary road stopping) –Local Government Act 2002 (presumption regarding alcohol in alcohol ban areas) –Local Government Official Information and Meetings Act 1987 (substantive amendments) –Ombudsmen Act 1975 (grounds to refuse to investigate) –Reserves Act 1977 (transfer of reserves to Crown and removal of outdated limitations) –Sale and Supply of Alcohol Act 2012 (various “tweaks”)

6. www.simpsongrierson.com Real Estate Agents Act and Fair Trading Act How will these affect you? The Real Estate Agents Act 2008 Are you are real estate agent? You are if you do “real estate agency work”. “Real estate agency work” is any work done or services provided: - in trade - on behalf of another person

7. www.simpsongrierson.com Real Estate Agents Act -for the purposes of bringing about a transaction “Transaction” is: -Sale, purchase or other disposal or acquisition of a freehold estate or interest in land -Grant, sale, purchase or other disposal or acquisition of a leasehold estate or interest in land (but not residential tenancies) -Also registered licences, occupation rights

8. www.simpsongrierson.com Real Estate Agents Act businesses (either with or without any interest in land) Exclusions from “transactions”: -general advice to assist owners to locate and negotiate with potential buyers -publishing advertisements -lending money -Investment advice -providing conveyancing services

9. www.simpsongrierson.com Fair Trading Act 1986 Major changes from 17 June 2014: Unsubstantiated representations -Section 12A to 12D You can’t in trade make an unsubstantiated representation A representation is unsubstantiated if you have no reasonable grounds for making it at the time it was made, irrespective of whether it was false or misleading

10. www.simpsongrierson.com Fair Trading Act 1986 A representation is a claim (express or implied) made in respect of goods, services or an interest in land You can’t contract out of this provision – section 5C

11. www.simpsongrierson.com Proposed changes Valuers Act 1948 Reform of valuation profession LINZ discussion paper Why is reform needed? Objectives of reform

12. www.simpsongrierson.com Questions