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BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 24A
Contracting party to report failure to establish project trust
(1) This section applies if the contracting party for a contract knows or
ought reasonably to know— (a) a project trust is required for the contract;
and
(b) a project trust account has not been opened for the trust as required
under section 18 .
(2) The contracting party must, using an approved way,
report the matter to the commissioner. Penalty— Maximum penalty—100
penalty units.
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