Construction Contracts Bill 2004
|Long Title||The purpose of this Bill is to introduce security of payment legislation for the building and construction industry by: 1. Prohibiting payment provisions in contracts that slow or stop the movement of funds through the contracting chain; 2. Implying fair and reasonable payment terms into contracts that are not in writing; 3. Clarifying the right to deal in unfixed materials when a party to the contract becomes insolvent; and|
4. Providing an effective rapid adjudication process for payment disputes.
|Status||Assented to 07/08/2004|
Royal Assent given 8 Jul 2004 as Act No. 16 of 2004. This Act comes into operation on a day fixed by Proclamation (see Assent and Commencement information for Acts)
|Previous Versions of this Bill|