Queensland Consolidated Acts

BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 51B

51B No power of trustee to invest

(1) The trustee for a project trust or retention trust must not invest the funds held in trust in any form of investment.

Penalty—

Maximum penalty—200 penalty units or 1 year’s imprisonment.

(2) The trustee does not contravene subsection (1) only by earning interest on an amount held in a trust account that is paid by the financial institution at which the account is held.