Queensland Consolidated Acts

QUEENSLAND BUILDING AND CONSTRUCTION COMMISSION ACT 1991 - SECT 67M

67M Limits on deductions for retention amounts

(1) This section applies if—

(a) an amount (the
"relevant amount" ) is payable by the contracting party for a building contract to the contracted party for the building contract; and

(b) the relevant amount relates to carrying out building work under the contract; and

(c) the relevant amount, except for a retention amount for the building contract that is withheld, is paid to the contracted party.

(2) The building contract is subject to a condition that the retention amount withheld is to be not more than 10% of the relevant amount.