Major changes to the Queensland construction industry
In August we advised of the introduction of the Building Industry Fairness (Security of Payment) Bill 2017 into the Queensland Parliament.
The introduction of this Bill was in accordance with a key election promise and agreement with the then speaker of the house which enabled the Labor party to form government at the time. This Bill proposed significant changes to the construction industry landscape with the introduction of project bank accounts, significant amendments to security of payment legislation and increased regulatory powers for the Queensland Building and Construction Commission (QBCC).
This Bill was subsequently assented to (albeit with some amendments to the Bill) prior to the calling of the recent election. With the re-election of the Labor government it is now expected that the Act will receive royal assent and commence in early to mid-January 2018. Its application to payment claims under the Act will be immediate ensuring that businesses in the industry will need to understand these changes and their operation immediately on their return from the Christmas industry shutdown period.
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
