Queensland Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 51
Trustee to cover shortfalls
(1) This section applies if there is an insufficient amount available in a
trust account to pay an amount due to be paid to a beneficiary of the trust.
(2) The trustee must immediately deposit an amount equal to the shortfall in
the trust account (a
"shortfall deposit" ). Penalty— Maximum penalty—100 penalty units or
1 year’s imprisonment.
(3) In this section—
"shortfall" , in a trust account, means an amount equal to the difference
between the amount available in the trust account for payment and the amount
to be paid from the account.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback