Queensland Consolidated Acts
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BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 3
The main purpose of Act
3 The main purpose of Act
(1) The main purpose of this Act is to help people working in the building and
construction industry in being paid for the work they do.
(2) The main
purpose of this Act is to be achieved primarily by— (a) requiring the use of
statutory trusts for particular contracts related to the building and
construction industry; and
(b) granting an entitlement to progress payments,
whether or not the relevant contract makes provision for progress payments;
and
(c) establishing a procedure for— (i) making payment claims; and
(ii)
responding to payment claims; and
(iii) the adjudication of disputed payment
claims; and
(iv) the recovery of amounts claimed; and
(d) enabling the use
of a statutory charge in favour of subcontractors for payment of the work they
do.
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