Call for developer licensing after ASIC bans Paul Hamilton of 3 Property Group 13

Calls for stricter developer regulation were reignited after ASIC banned a local developer from managing companies for two years over his involvement in five failed companies.

Paul Kenneth Nimal Hamilton, who was a director of 3 Property Group 13 Pty Ltd among other companies, was disqualified from managing corporations until October 23, 2025.

ASIC found Mr Hamilton was the director of five companies that entered liquidation between December 2019 and August 2021.

The five companies owed a total of more than $11.8 million to unsecured creditors, including about $5.5 million to the Australian Taxation Office.

Zach Smith, ACT secretary of the Construction, Forestry, Maritime, Mining and Energy Union, said the Canberra community was exposed to the unethical conduct of some developers.

"It's a good thing that ASIC has taken this action, but it should never have taken this long to protect Canberrans from people with track records as bad as this," he said.

Mr Smith called on the ACT government to expedite its "long-mooted" property developer licensing scheme in light of Mr Hamilton's disqualification.

"People like this are currently allowed to operate with impunity in the ACT and it's only once they've created chaos that the regulator is able to do anything," he said.

Mr Smith said it was time for the government to "pull the trigger" on the scheme "before more people get hurt".

In 2019, the ACT government announced it would introduce a property developer licensing scheme as a way to regulate the industry and hold developers accountable for their projects.

The scheme would include a "fit and proper person" test and a "rigorously enforced penalty scheme", the government's listening report stated.

The ACT government was in the process of developing a regulatory framework with a goal to introduce it in 2024, its website stated.

ACT Sustainable Building and Construction Minister Rebecca Vassarotti told The Canberra Times the licensing scheme was on track.

"I'm excited to confirm that legislation to introduce developer licensing is well on track to be tabled in the ACT Legislative Assembly before the end of the year," she said.

"This is a momentous step in progressing a key election commitment of the ACT Greens to introduce this legislation."

Companies associated with 3 Property Group were behind a series of off-the-plan property contract cancellations across Canberra in recent years.

A buyer in one of 3 Property Group's townhouse projects said they were not surprised by ASIC's decision, given the development group's past attempt to cancel their off-the-plan contract.

But they hoped it did not impact their ongoing townhouse purchase.

"I hope that this doesn't prohibit us from progressing with the property after all of the stress that we have already gone through and all of the time, but also money, that we have invested," the buyer said.

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The buyer did not wish to be named for fear of jeopardising their purchase.

Hopeful their townhouse would be ready soon, the buyer wanted some assurance and "transparency around timelines" from 3 Property Group.

The Canberra Times reached out to 3 Property Group but did not receive a response.

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