Queensland Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 35A
Limited purposes for which money may be deposited in retention trust account
35A Limited purposes for which money may be deposited in
retention trust account
(1) A trustee must not cause an amount to be deposited into the
retention trust account for any purpose other than— (a) withholding a
retention amount from payment under a contract for which the trustee is the
contracting party; or
(b) repaying an amount withdrawn in error.
Penalty— Maximum penalty—200 penalty units or 1 year’s
imprisonment.
(2) This section does not apply to a deposit of an amount
that is interest earned on amounts held in a retention trust account.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback