Articles

Posted Apr 14, 2015 Newsflash: Senate has announced Inquiry into insolvency in the Building and Construction Industry

On 4 December 2014, the Senate announced an Inquiry into insolvency in the Australian Construction Industry. The Inquiry will be conducted by the Senate Economic Reference Committee and the terms of reference include a review of the following: The cause of insolvency in the construction industry; The amount of money lost by secured and unsecured…

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Posted Apr 03, 2014 Security of Payment Update

The Government has announced that the changes to the Building and Construction Industry Security of Payment Act 1999 will commence on 21 April 2014. Changes being implemented The changes being implemented on 21 April 2014 will include: The introduction of a maximum payment term for progress payments; The requirement that payment claims made by a…

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Posted Nov 29, 2013 Security of Payment Reform: Unpacking the Changes

Protecting Retention Monies and Release of Consultation Paper In recent publications we have provided an overview of some of the changes that have been made to the Building and Construction Industry Security of Payment Act (NSW) 1999 (SOPA). Here we discuss the implications of the reforms specifically with regard to retention monies. The reform The…

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Posted Nov 21, 2013 Building and Construction Industry Security of Payment Amendment Bill Passed in Both Houses

UPDATE TO ARTICLE PUBLISHED ON 31 OCTOBER 2013 On 14 November 2013, the Building and Construction Industry Security of Payment Amendment Bill 2013 (the Bill), proposing significant amendments to the Building and Construction Industry Security of Payment Act 1999 (the Act), was passed by the NSW parliament. The Bill gives effect to a number of…

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Posted Oct 31, 2013 Building and Construction Industry Security of Payment Amendment Bill 2013

On 24 October 2013, the Building and Construction Industry Security of Payment Amendment Bill 2013 (the Bill), proposing significant amendments to the Building and Construction Industry Security of Payment Act 1999 (the Act), was introduced to NSW parliament. If passed, the Bill will give effect to a number of important changes to the Act including…

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