AustLII Tasmanian Consolidated Acts

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HOUSING INDEMNITY ACT 1992 - SECT 20

PART 4 - Payments Under Building Work Contracts 20. Restrictions on payment under building work contracts

A person must not demand or receive under a building work contract, or enter into a building work contract under which the person is entitled to demand or receive, any payment unless the payment –

(a) constitutes a genuine progress payment in respect of building work already performed; or

(b) in the case of a payment made before the commencement of building work having a value of less than $20 000 or such other amount as may be prescribed, is not more than 10% of the contract price; or

(c) in the case of a payment made before the commencement of building work having a value of $20 000 or more or such other amount as may be prescribed, is not more than 3% of the contract price.

Penalty:

A fine not exceeding 100 penalty units.


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