Consultation Co-operative Housing and Starr-Bowkett Societies Regulation Outcomes

Outcomes

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  • The Issue

    Consultation period: 03/07/2020 9:00 am to 31/07/2020 11:59 pm

    What’s this about?

    The NSW Government is seeking feedback on a proposed new regulation for Co-operative housing and Starr-Bowkett societies.

    Co-operative housing and Starr-Bowkett societies are lending institutions that provide affordable home loans to low and middle income earners. The societies operate on a system based on providing interest-free or low-interest loans to members obtained from members’ pooled savings on a lottery basis.

    As of 1 July 2019, no new co-operative housing society or Starr-Bowkett society may be formed. Existing societies may continue to operate, however, Starr-Bowkett Societies cannot admit any new members. There are currently less than 10 societies registered in New South Wales.

    The proposed Regulation will make operations easier for the societies by:

    • simplifying requirements for reporting and record-keeping
    • removing administrative burden and red tape
    • reducing the total number of fees payable.

    Next steps

    Have your say on the proposed Regulation.

    Read the Regulatory Impact Statement (RIS) and complete the online form below. The RIS outlines in more detail the proposed amendments and their impacts.

    You can also refer to the Draft Regulation - Co-operative Housing and Starr-Bowkett Societies Regulation 2020.

    All feedback will be carefully considered and assessed, and may be used to make further amendments to the Regulation.

  • Milestones

    Milestones

    • 3 July 2020 – Public consultation begins
    • 31 July 2020 – Public consultation closes
    • From 1 August - Fair Trading considers your feedback
    • 1 September 2020 – Proposed start of the Co-operative Housing and Starr-Bowkett Societies Regulation 2020

  • Outcomes

    No submissions were received during the consultation period.

    On 1 September 2020, the new Co-operative Housing and Starr-Bowkett Societies Regulation 2020 commenced and replaced the Co-operative Housing and Starr-Bowkett Societies Regulation 2015.

    The new Regulation is available on the NSW legislation website.

    View the submissions here

Have your say

No submissions were received during the consultation period.

On 1 September 2020, the new Co-operative Housing and Starr-Bowkett Societies Regulation 2020 commenced and replaced the Co-operative Housing and Starr-Bowkett Societies Regulation 2015.

The new Regulation is available on the NSW legislation website.

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We invite you to tell us your views by using our online form. You don't have to answer every question but your submission needs to address the specific issues raised in the documents and where possible provide evidence to support your feedback (eg are there any reports or papers you can refer to?).

Open the online form

If you can't use our online form, you can email your submission to [email protected]. We will publish your submission if not told otherwise.

If you can't provide your submission electronically, you can send your submission by mail to:

Outcomes consultation
Better Regulation Division, Policy and Strategy NSW Department of Customer Service 4PSQ, Lv 28, Mail Room 12 Darcy Street PARRAMATTA NSW 2150