Queensland Consolidated Acts

BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 12

12 When project trust required for a contract

(1) This section applies to a contract entered into on or after the commencement of this section.

(2) A project trust is required for a contract if—

(a) the contract is eligible for a project trust under subdivision 2 ; and

(b) the contract is not exempted under subdivision 3 ; and

(c) the contracted party enters into a subcontract for all or part of the contracted work.

(3) The requirement starts on the first day a project trust is required under subsection (2) .

(4) The requirement continues until the project trust is dissolved under section 21 , regardless of any of the following changes—

(a) a variation, or any other amendment, of the contract;

(b) a change in the contract price;

(c) a change in the contracted work.

(5) If a project trust is required for a contract and a project trust is also required for a subcontract of the contract, separate project trusts are required for the contract and the subcontract.