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SECURITY OF PAYMENT ACT

The amendments to the Building and Construction Industry Security of Payment Act 1999 (NSW) commenced on October 21, 2019; imposing significant changes upon the building and construction industry.

Find out what you need to know.
This eBook summarises the key amendments to the Security of Payment Act:
  • Key Change 1 - "Reference Dates" Eliminated
  • Key Change 2 - Payment terms reduced to 20 Business Days
  • Key Change 3 -  Increase to penalties for offences under the Principal Act
  • Key Change 4 - Code of practice for Authorised Nominating Authorities
  • Key Change 5 - Enable the Supreme Court to Set Aside (In whole or in part) an Adjudicator's Determination if it finds that Jurisdictional Error has occurred
  • Key Change 6 - Prohibiting a Corporation in liquidation from making payment claims... Download to find out more

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