Queensland Consolidated Acts

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

Interest earned on amounts held in trust account

51D Interest earned on amounts held in trust account

(1) The trustee for a project trust or retention trust is entitled to receive all interest earned on amounts held in the trust account.
(2) The trustee may withdraw an amount equal to the interest earned on amounts held in the trust account once every 12 months or on the dissolution of the trust, unless the withdrawal would prevent the full payment of another amount that must be paid from the account.



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