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Security of Payment Regulation changes

Topic: Regulation

NSW Fair Trading is seeking feedback on proposed amendments to the Building and Construction Industry Security of Payment Regulation 2008.

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.

More Information

Topic: Regulation
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