Queensland Consolidated Acts

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BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 24

Contracting party to report related entities

24 Contracting party to report related entities

(1) This section applies if—
(a) a project trust is established for a contract; and
(b) the contracting party knows, or ought reasonably to know, that a subcontractor beneficiary is a related entity for the contracted party.
(2) The contracting party must, using an approved way, inform the commissioner of the matter within 5 business days after the party first becomes aware, or ought reasonably to have become aware, of the matter.
Penalty—
Maximum penalty—50 penalty units.



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