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BUILDING AND CONSTRUCTION INDUSTRY (SECURITY OF PAYMENT) ACT 2009 - SECT 9 Application of Act

BUILDING AND CONSTRUCTION INDUSTRY (SECURITY OF PAYMENT) ACT 2009 - SECT 9

Application of Act

    (1)     This Act applies to a construction contract—

        (a)     whether written or oral, or partly written and partly oral; and

        (b)     whether expressed to be governed by a law of the Territory or a law of another jurisdiction.

    (2)     This Act does not apply to any of the following:

        (a)     a construction contract that forms part of a loan agreement, a contract of guarantee or a contract of insurance under which a recognised financial institution undertakes—

              (i)     to lend money or to repay money lent; or

              (ii)     to guarantee payment of money owing or repayment of money lent; or

              (iii)     to provide an indemnity in relation to construction work carried out, or related goods and services supplied, under the construction contract;

        (b)     a construction contract for carrying out insurable residential building work if a resident owner is a party to the contract, to the extent that the contract relates to a building or part of a building where the resident owner lives or intends to live;

        (c)     a construction contract under which it is agreed that the consideration payable for construction work carried out under the contract, or for related goods and services supplied under the contract, is to be worked out otherwise than by reference to the value of the work carried out or the value of the goods and services supplied.

    (3)     This Act does not apply to a construction contract to the extent to which it contains—

        (a)     provisions under which a party undertakes to carry out construction work, or supply related goods and services, as an employee of the party for whom the work is to be carried out or the related goods and services are to be supplied; or

        (b)     provisions under which a party undertakes to carry out construction work, or to supply related goods and services, as a condition of a loan agreement with a recognised financial institution; or

        (c)     provisions under which a party undertakes—

              (i)     to lend money or to repay money lent; or

              (ii)     to guarantee payment of money owing or repayment of money lent; or

              (iii)     to provide an indemnity with respect to construction work carried out, or related goods and services supplied, under the construction contract.

    (4)     This Act does not apply to a construction contract to the extent to which it deals with—

        (a)     construction work carried out outside the ACT; or

        (b)     related goods and services supplied in respect of construction work carried out outside the ACT.

    (5)     This Act does not apply to a construction contract prescribed by regulation.

    (6)     To remove any doubt, this Act does not apply to a construction contract entered into before the commencement of this part.

    (7)     In this section:

"recognised financial institution" means a bank or any other person or body prescribed by regulation.

"insurable residential building work"—see the Building Act 2004

, dictionary.

"resident owner", in relation to a construction contract for carrying out insurable residential building work, does not include a person who is or should be licensed as an owner-builder under the Construction Occupations (Licensing) Act 2004

.