(1)  Subject to subsection (2) , an action cannot be brought after a period of 10 years starting on the date on which the cause of the action first accrues, whether or not the cause accrues before or after the commencement of this Act.

(2)  An action in respect of building work completed 9 years or more before the commencement of this Act may only be brought up to a period of one year after that commencement.

(3)  This section does not affect any right to recover damages for death or bodily injury resulting from defective building work.

(4)  This section does not apply to any action that has commenced at any time but has not yet been determined at the end of one year after the commencement of this Act.