Building Industry Fairness (Security of Payment) Bill 2017

The Building Industry Fairness (Security of Payment) Bill 2017 was introduced to Parliament on Tuesday 22 August, with legislative changes aimed at clamping down on shadow directors and phoenixing activities, and introduces Project Bank Accounts to try and address the issue of security of payment for subcontractors.

These matters where identified in the Queensland Building Plan discussion paper that was released for consultation earlier this year.  The Property Council along with other industry bodies have been vocal opponents of the proposal to introduce Project Bank Accounts. 

The Bill has been referred to the Public Works and Utilities Committee for review. The Property Council will examine the detail of the Bill to identify the potential impacts of Project Bank Accounts on the property industry, and will lodge a submission by the due date of 7 September.

To access a copy of the Bill and Explanatory notes, click here.