Developers who fall foul of proposed new licensing laws in the ACT could be personally liable for millions of dollars in defects, including work completed by third-party subcontractors.

Despite the best intentions of the Australian-first Bill, which would require developers to hold a license for the first time, some industry insiders say the proposal needs fine-tuning.

The ACT Government announced the Property Developers Bill 2023 in November with the goal of introducing more transparency and greater consumer protection to the sector.