Reform of the Home Building Compensation Fund Discussion Paper

NSW Fair Trading have released a Discussion Paper canvassing a range of reform options aimed at ensuring the HBCF achieves financial sustainability so that it can continue to fulfil its consumer protection role in the future. 

These potential options cover operational and administrative changes to the HBCF, as well as changes to the builder licensing system that are linked to the HBCF.

The Discussion Paper also suggests five broad reform models that combine the potential reform options in different ways:

Model 1 Retain the current scheme, reduce administration costs and raise premiums
Model 2 Reduce the scheme's coverage
Model 3 Combine reduced scheme coverage and raised premiums
Model 4 Move to a voluntary insurance scheme
Model 5 Combine a voluntary and mandatory scheme

To view the dicussion paper click here

You can provide your feedback by either completing the online survey, which includes a summary of the proposed changes, or you can send your submission in writing:

Email to: HBCFreform@finance.nsw.gov.au

Post to:

HBCF Reform
Policy and Legislation
NSW Fair Trading
PO Box 972
PARRAMATTA  NSW  2124

Submissions on the Discussion Paper close on Friday, 12 February 2016