BUILDING AND CONSTRUCTION INDUSTRY SECURITY OF PAYMENT REGULATION 2008
- Made under the Building and Construction Industry Security of Payment Act 1999
- As at 25 March 2020
- Reg 139 of 2008
Table of Provisions
PART 1 - PRELIMINARY
- 1 Name of Regulation
- 2 Commencement
- 3 Interpretation
- 3A Application of Act
PART 2 - TRUST ACCOUNTS FOR RETENTION MONEY
Division 1 - Preliminary
- 4 Definitions
- 5 Application of Part--projects with a value of at least $20 million
- 5A Executive liability offences
Division 2 - Trust account requirements
- 6 Retention money to be held in trust account
- 7 Requirements for establishment of trust account
- 8 Withdrawals from trust account
- 9 Interest earned on trust account
- 10 Retention money not available to pay head contractor's debts
- 11 Overdrawn trust account
- 12 Closure of trust account
- 13 Financial institutions not subject to certain obligations and liabilities
Division 3 - Records and information
- 14 Trust account records
- 15 Power to require information
- 16 Annual report on trust account
- 17 Offence of providing false or misleading information
PART 3 - MISCELLANEOUS
- 18 Recognised financial institutions
- 19 Supporting statements
- 20 Exemptions
Schedule 2 (Repealed)
