Queensland Consolidated Acts

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QUEENSLAND BUILDING AND CONSTRUCTION COMMISSION ACT 1991 - SECT 67M

Limits on deductions for retention amounts

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.



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