Victorian Consolidated Regulations Victorian Consolidated Regulations(1) This Subdivision applies to a construction project if the cost of the project is $350 000 or more.
Note
This Subdivision only applies to construction projects where the construction contract was entered into on or after 1 July 2014. This Subdivision applies to construction projects costing $250 000 or more if the construction contract for the project was entered into before 1 July 2014. (See regulation 558).
(2) For the purposes of this Part, the cost of a construction project is to be valued in the same way that construction work under a construction contract is valued under section 11 of the Building and Construction Industry Security of Payment Act 2002 .