Legislative Certainty for Tasmanian Developers

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Legislative Certainty for Tasmanian Developers

The Macquarie Point Development Corporation Amendment Bill 2015 (Tas) seeks to amend the Macquarie Point Development Corporation Act 2012 (Tas). The Bill will give certainty to development and remediation of proposed investments at Macquarie Point. Agreements with state government concerning developments will endure transfer of ownership, only to be amended or extinguished by mutual agreement between the parties. The Bill will also require a remediation standard to be met before development occurs so that new developers do not incur greater remediation costs due to former developer’s environmental restoration failures. The Bill in full can be read here.

 

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