TAIPEI (Taiwan News) — The premier of the southeast Australian state of New South Wales (NSW), Gladys Berejiklian, announced Thursday (Nov. 28) that Sydney's lockout law, which mandates pubs and clubs to stop selling alcohol at 1:30 a.m., will be lifted from Jan. 14.

The lockout law was enacted in 2014 by former NSW Premier Barry O'Farrell as a response to the high prevalence of bar fights. The regulation prohibits entry into bars in Sydney's Central Business District (CBD) after 1:30 a.m. and alcoholic beverages from being served after 3 a.m.

Recently, the law has been blamed for contributing to Sydney's declining economy, and many night clubs and liquor stores have closed due to the restrictions. Night Time Industries Association (NTIA) Chairman Michael Rodrigues said the repeal of the law was a "great start" to bringing back Sydney's 24-hour economy, reported UDN.

According to Premier Berejiklian, the revived nightlife will ensure Sydney's place as a global city, and public transportation hours will be extended. The reversal of the lockout law will allow drinks to be served until 3:30 a.m. and all venues in the Sydney CBD, excluding the Kings Cross area, to stay open until sunrise.