Western Australian Current Acts Western Australian Current Acts (1) In this Part
—
government party —
(a)
means a party to a construction contract that is a State, a Territory or the
Commonwealth; and
(b)
includes the following —
(i)
a Minister of a State, a Territory or the Commonwealth;
(ii)
an agency or organisation as those terms are defined in
the Public Sector Management Act 1994 section 3(1) or a similar public sector
agency or organisation of another State, a Territory or the Commonwealth;
(iii)
a local government, regional local government or regional
subsidiary of this State or a similar local government authority of another
State or a Territory;
(iv)
a body, or the holder of an office, established or
continued for a public purpose under a law of a State, a Territory or the
Commonwealth;
(v)
a corporation owned or controlled by a State, a Territory
or the Commonwealth or by any person or entity referred to in subparagraphs
(i) to (iv);
party A , in relation to retention money, means
—
(a) in
the case of retention money referred to in paragraph (a) of the definition of
retention money in section 4(1) — the party to the construction contract
who retains the retention money; and
(b) in
the case of retention money referred to in paragraph (b) of the definition of
retention money in section 4(1) — the party to the construction contract
who is paid the retention money;
party B , in relation to retention money, means
the party to the construction contract the performance of whose obligations is
being secured by the retention money;
retention money trust commencement date , for
retention money, means —
(a) in
the case of retention money referred to in paragraph (a) of the definition of
retention money in section 4(1) — the date on which the money first
becomes payable to party B for carrying out construction work, or supplying
related goods and services, under the contract (but for the right of party A
to retain the money); or
(b) in
the case of retention money referred to in paragraph (b) of the definition of
retention money in section 4(1) — the date the money is paid to party A;
retention money trust end date , for retention
money, means the earliest of the following —
(a) the
date on which the retention money is paid to party B for carrying out
construction work, or supplying related goods and services, under the
construction contract;
(b) the
date on which party B gives written notice to party A that party B will not
make a claim under Part 3 or the construction contract for the release of the
retention money;
(c) the
date on which party A becomes entitled under the construction contract to
recourse to the retention money;
(d) the
date that the retention money is no longer required to be held as security
under the construction contract following a determination of an adjudicator or
review adjudicator under Part 3, a decision of an arbitrator under the
construction contract or an order of a court or tribunal;
(e) the
date that is 2 years after the date on which party A gives party B written
notice that the retention money is due to be released to party B.
(2) For the purposes
of this Part —
(a)
money is taken to be paid to a party to a construction contract as referred to
in paragraph (b) of the definition of retention money in section 4(1) if it is
paid into an account of, or under the control of, the party; and
(b)
money that is paid (or taken to be paid) to a party to a construction contract
as so referred to is taken to be retained by the party.
(3) For the purposes
of this Part, money that a party to a construction contract is entitled to
retain out of an amount payable by the party is taken to be retained by the
party at the time the money would be payable (but for the right of the party
to retain the money) for construction work carried out, or for related goods
and services supplied, under the contract, so long as the amount of the money
can be determined at that time, even if —
(a) the
party has not yet set the money aside nor paid it into a retention money trust
account; or
(b) the
other party who carried out the work or supplied the goods and services has
not yet made a claim for payment under this Act or the contract in relation to
the work or supply.