Queensland Consolidated Acts

BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 23A

23A Subcontractor beneficiary to be informed of particular withdrawals

(1) This section applies if—

(a) a withdrawal is made from a project trust account to make a payment to a subcontractor beneficiary; or

(b) a withdrawal is made from a project trust account to deposit an amount, withheld from payment to a subcontractor beneficiary, in a retention trust account for the benefit of the subcontractor beneficiary.

(2) Within 5 business days after making the withdrawal, the trustee for the project trust must give the subcontractor beneficiary a notice of the withdrawal that includes the information prescribed by regulation, unless the trustee has a reasonable excuse.

Penalty—

Maximum penalty—100 penalty units.