Exemptions from financial reporting requirements
The following licensees and applicants do not have to meet any MFR obligations:
- Nominee supervisor
- Site supervisor
- Occupational licensees.
- Building Certifiers and Pool Safety Inspectors are also exempt from meeting the minimum financial requirements as these two licences are issued under the Building Act 1975.
Applicants or licensees holding a licence in one or more of the following classes:
- Building design – low rise;
- Building design – medium rise;
- Building design – open;
- Builder – Project Management Services
- Hydraulic services design;
- Site classifier; or
- Is a special purpose vehicle
and hold professional indemnity insurance, may be exempt from the financial reporting requirements.
This exemption does not apply where the applicant or licensee is applying for, or holds a licence in another class not listed above.