New security of payment regulation in NSW and how it will affect you - Real Estate and Construction
The new Building and Construction Industry Security of Payment Regulation 2020 ( New Regulation) commenced on 1 September 2020 (except for Schedule 2 which will commence on 1 March 2021). The New Regulation repeals the Building and Construction Industry Security of Payment Regulation 2008 and is designed to better facilitate and support the administrative functions of the Building and Construction Industry Security of Payment Act 1999 ( the SOP Act). Exempt residential construction contracts Owner occupier construction contracts are contracts where the homeowners intend to the live i...
Source: mondaq.com