Security of Payment Regulation changes
What is this about?
The NSW Government is continuing to reform the building and construction industry. This will provide greater financial security and faster payments for subcontractors.
These reforms include:
- exempting owner occupier construction contracts from the operation of the Act
- specifying the offences concerning retention money trust accounts as executive liability offences
- specifying the offences under the Act and regulation for which penalty notices may be issued and the amount of the penalty payable.
Have your say
There are three ways you can submit your feedback:
- Online: consultation website
- Email: [email protected]
- Mail: Security of Payment Amendment Regulation Consultation
Regulator Policy, Better Regulation Division
Department of Finance, Service and Innovation
Locked Bag 2906
Lisarow NSW 2252
Have your say by 21 June 2019.