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