This is an unnecessary piece of bureaucratic legislation. All it does is give Chartered Surveyors a license to print money for a document stating the same facts that are in the legislation. It sets neighbours against each other.
Why does this idea matter?
Party Wall Act legislation is phrased in terms of "dispute" rather than what it should be as an "agreement" between two parties. The product does not protect either party as it is not "joint agreement". The document produced has no legal standing and a Chartered Surveyor is only a "middle-man" and cannot act legally. So, any dispute becomes a civil matter anyway, as it would if there issues arise between two parties. Scrap it, or repeal it.