New South Wales Consolidated Regulations
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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Schedule 2 (Repealed)
SCHEDULE 3
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