Queensland Update: Next tranche of Building Industry Fairness reforms to commence on 17 December 2018
- Sunday, December 16, 2018
Author: Luke Preston, Partner
Security of payment laws in Queensland will change again on 17 December 2018 with the commencement of Parts 3, 4 and 5 of the Building Industry Fairness (Security of Payment) Act 2017 (BIF Act).
Stage 1 of the reforms commenced on 1 March 2018 with the implementation of project bank accounts for building head contracts entered with the Queensland government with a contract price or value between $1 million and $10 million.