Brief

The Parliament Act 1974 is an Act of the Australian Parliament that determines the site of the New and Permanent Parliament House and outlines the control of the construction of buildings within the Parliamentary zone.

Key points:

The Act defines the Parliamentary zone, which includes the area bounded by Commonwealth Avenue, State Circle, Lake Burley Griffin, and Kings Avenue.
The new and permanent Parliament House shall be constructed on the site marked "Site of Parliament House" on the plan set out in the Schedule.
Any building or work within the Parliamentary zone requires approval from the President of the Senate and the Speaker of the House of Representatives or the Minister, unless the work is for maintenance, repair, or internal alterations.
Buildings and works that have reached the documentation stage by 1 December 1974 are exempt from this provision.

The Act has been amended by the Parliamentary Precincts Act 1988, and notable changes include the addition of new subsections to Section 5 and the repeal and substitution of Schedule.

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Australian Government - Federal Register of Legislation

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