This Act introduced the principle of equal sharing of all assets of a marriage in the event of its dissolution after three years. It did not apply to property shared within a de facto relationship. The property included the home and chattels, life insurance, and property owned jointly or in common, as well as things acquired in contemplation of marriage. Equal shares could be renegotiated if the contribution of one spouse had clearly exceeded that of the other. This contribution could be in such ways as the care of a child or dependent relative, household management, services in relation to the property, or the giving of support to the spouse, as well as earnings from paid employment.