Page 2072 - Week 07 - Tuesday, 28 May 1991
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matters can proceed quickly in the unfortunate event that they go through to that court. I have been given advice as to what the waiting times are there, and they certainly have improved remarkably since I last knew that place. I am pleased to see that matters are coming on within, I believe, about six weeks of notification. I hope that the court can get that right down to a much more emergent time period.
The measure that is unique in this legislation is the ability of the rental bonds office to refund that part of the bond not in dispute. I think that is a little advance on schemes elsewhere. In other words, ACT tenants and landlords will have a slightly higher service that is more convenient to them. So, they can quarantine a sum that is in issue and the rest can be released to the tenant, which is an advantage.
The surplus funds, I have indicated, are to be used for the purpose of tenant and landlord information programs, and facilitating assistance in the provision of residential accommodation. Those objectives will extend to the issue that I have just identified - that of being able to give extra assistance through the mediation and court processes if those needs are identified. One of the central objectives of the office will be to identify key areas of concern in landlord-tenant relations and to fund programs specifically directed towards resolving those needs.
I believe that the ACT Office of Rental Bonds is a prime example of bureaucracy kept to a minimum. The staffing structure has been streamlined, and the office will provide an immediate turnaround for claims on non-disputed bonds. The ACT Treasury will be investing bonds on behalf of the office, and this will guarantee a maximum return on investments for the community. I was quoted a figure of something around 11.6 per cent. I think the best rate of interest we could get if we had left the money in real estate trust accounts was around 8.5 per cent.
I believe that the passage of this Bill through the Assembly will result in significant social benefits to tenants, but also to landlords. It will benefit the community at large, and take out, I hope, one issue that tends to create a divisiveness in the community, as mediation and resolution and more accurate fixing of contractual arrangements are established. I am sure all members agree that this is a good initiative which meets the general aim of self-government to provide a better basis for the ACT community to have itself governed on and on which to conduct its relations.
Question resolved in the affirmative.
Bill agreed to in principle.
Leave granted to dispense with the detail stage.
Bill agreed to.
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