Queensland Consolidated Acts

BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 17

17 Establishment of project trust

Once a project trust is required for a contract under section 12 , the trust is established by the first of the following being made after the trust is required—

(a) payment of an amount from the contracting party to the contracted party under the contract;

(b) payment of an amount from the contracted party to a subcontractor beneficiary for subcontracted work under the contract;

(c) a deposit in the project trust account as required under this chapter.