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BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 23B
Subcontractor beneficiary may request particular information
23B Subcontractor beneficiary may request particular information
(1) A person who is, or was, a subcontractor beneficiary of a project trust
may, in writing, request the trustee give the person the following information
to the extent it relates to the person— (a) a statement of balance for the
project trust account;
(b) a copy of the transactions for the project trust
account;
(c) a copy of the trust records;
(d) a copy of
supporting statements given to the contracting party with the payment claims
made by the trustee as the contracted party.
(2) The trustee must give the
person the requested information within 10 business days after being given the
request, unless— (a) the trustee has a reasonable excuse; or
(b) the
information is already available to the person; or
(c) the information has
not changed since it was previously given to the person.
Penalty—
Maximum penalty—100 penalty units.
(3) The requested information must be
given to the person in writing and any words used in the information to
explain a transaction must be in the English language.
(4) It is not a
reasonable excuse for the trustee to fail to comply with the request on the
grounds that complying with the request might tend to incriminate the trustee
or expose the trustee to a penalty.
(5) In this section—
"supporting statement" see section 75 (9) .
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