New South Wales Consolidated Regulations

BUILDING AND CONSTRUCTION INDUSTRY SECURITY OF PAYMENT REGULATION 2008 - REG 11

11 Overdrawn trust account

A head contractor must, within 5 days after becoming aware that a retention money trust account of the head contractor has become overdrawn, notify the Secretary in writing of--

(a) the name and number of the account, and

(b) the amount by which the account is overdrawn, and

(c) the reason for the account becoming overdrawn.

: Maximum penalty--200 penalty units.