Articles

Security of Payment Act

Posted Oct 25, 2018 SOPA Bill – Some Key Changes
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After an extensive review and consultation process which commenced in 2015; the NSW Government introduced the Building and Construction Industry Security of Payment Amendment Bill 2018 of 24 October 2018.  According to the second reading speech, the Bill seeks to increase cashflow and transparency  protections in the contracting chain and “to simplify and clarify the […]

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Posted Oct 25, 2018 SOPA Reform Bill Released on 24 October 2018
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NSW is reforming security of payment laws which protect contractors and suppliers to construction projects. An amending Bill was introduced on 24 October 2018 into the NSW Parliament to promote cash flow and transparency in the contracting chain.  Progress claims The concept of a “reference date” will be removed from the legislation.  Progress claims may […]

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Posted Sep 05, 2018 Security of Payment Masterclass 2018
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COST: $225 per person ($195 per person if three or more from one company) Mid-session food and drinks provided If you are a contract administrator, project manager, developer, builder or subcontractor in the building and construction industry, don’t miss this unique opportunity to gain a  better understanding of how the Security of Payment legislation works. The seminar […]

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Posted Aug 29, 2018 Personal liability for directors and managers of corporations under Security of Payment reforms
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Last week, we wrote about some of the amendments proposed to the Building and Construction Industry Security of Payment Act 1999 (NSW) (the Act) by virtue of the Building and Construction Industry Security of Payment Amendment Bill 2018 (the Amendment Bill). One of the key changes proposed by the Amendment Bill is for directors and […]

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Posted Aug 22, 2018 Hot off the press: Draft Security of Payment Amendment Bill 2018 released for public comment
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On 21 August 2018, the New South Wales Government released the Building and Construction Industry Security of Payment Amendment Bill 2018 (the Amendment Bill) which is open for public comment until 18 September 2018 and which proposes a number of amendments to the Building and Construction Industry Security of Payment Act 1999 (NSW) (the Act). […]

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