Queensland Consolidated Regulations
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QUEENSLAND BUILDING AND CONSTRUCTION COMMISSION (MINIMUM FINANCIAL REQUIREMENTS) REGULATION 2018 - REG 17D
Requirement to give commission information—amount under deed of covenant and assurance no longer included as asset
17D Requirement to give commission information—amount under deed of covenant
and assurance no longer included as asset
(1) This section applies if a licensee intends to stop including a deed of
covenant asset for working out the licensee’s net tangible assets.
(2) The
licensee must give the commission— (a) an MFR report demonstrating the
licensee’s net tangible assets are, without the deed of covenant asset,
sufficient for the licensee’s maximum revenue for the relevant reporting
year; or
(b) an application under section 11M to reduce the licensee’s
maximum revenue, accompanied by an MFR report.
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