New South Wales Consolidated Acts

BUILDING AND CONSTRUCTION INDUSTRY LONG SERVICE PAYMENTS ACT 1986 - SECT 40

40 Determination of cost of erecting building for purposes of this Part

(1) For the purposes of this Part, the cost of erecting a building is:

(a) the cost as determined by:

(i) the consent authority granting the development consent referred to in section 37 (1) (a) (if a construction certificate is not required to be obtained), or

(ii) the certifying authority issuing the construction certificate referred to in section 37 (1) (a) (if a construction certificate is required to be obtained), or

(iii) the certifying authority issuing the complying development certificate referred to in section 37 (1) (a) (if a complying development certificate is issued), or

(b) where no such determination is made-the contract price or, if there is no contract price, the cost as determined by the Corporation.

(2) Notwithstanding subsection (1), if the Corporation is satisfied that the determination of a consent authority or certifying authority of the cost of erecting a building, or the contract price for erecting a building, is not a genuine and accurate estimate of the cost of erecting the building, that cost may be determined by the Corporation.