The last resort Builders Warranty Insurance scheme is set to be dumped as part of a wide-ranging overhaul of construction industry regulation in Victoria, which will also enable corporations to register as building practitioners or building surveyors and scrap a number of industry regulatory bodies.

Unveiled by Finance Minister Robert Clark last week, the Building Legislation Amendment Bill 2014 amends the  Building Act 1993, the Domestic Building Contracts Act 1995 and the Architects Act 1991 and gives effect to the government’s controversial Domestic Building Consumer Protection Reform Strategy announced last year. Amongst the changes, the…