retrieval-0002Document excerpt 2

Building and Construction Industry (Security of Payment) Amendment Bill 2026 Building and Construction Industry (Security of Payment) Act 2021 amended Part 2 s. 12 page 13 12. Section 50 amended1 After section 50(5)(f) insert:2 3 (fa) in the case of an adjudication review — the4 amount of adjudication fees and expenses, and5 the proportion of that amount, payable or paid6 by a party in relation to the adjudication that is7 the subject of the review;8 9 13. Section 62 amended10 In section 62(1)(c) delete “retention money relating to the11 progress payment into a retention money trust account as12 required by” and insert:13 14 money relating to the progress payment that is required to be15 paid into a trust account under16 17 14. Part 4 heading replaced18 Delete the heading to Part 4 and insert:19 20 Part 4 — Statutory trusts21 Division 1 — Retention money trusts22 23 15. Section 69 amended24 (1) In section 69(1) and (2) delete “Part —” and insert:25 26 Division —27 28

Building and Construction Industry (Security of Payment) Amendment Bill 2026 Part 2 Building and Construction Industry (Security of Payment) Act 2021 amended s. 16 page 14 (2) In section 69(3) delete “Part,” and insert:1 2 Division,3 4 16. Section 70 amended5 (1) In section 70(1) delete “Part” (each occurrence) and insert:6 7 Division8 9 (2) In section 70(2):10 (a) delete “Part,” and insert:11 12 Division,13 14 (b) in paragraph (c)(ii) delete “Part” and insert:15 16 Division17 18 (3) In section 70(3):19 (a) delete “Part” (1st and 2nd occurrences) and insert:20 21 Division22 23 (b) delete “Part.” and insert:24 25 Division.26 27

Building and Construction Industry (Security of Payment) Amendment Bill 2026 Building and Construction Industry (Security of Payment) Act 2021 amended Part 2 s. 17 page 15 (4) In section 70(4) delete “Part” (each occurrence) and insert:1 2 Division3 4 Note: The heading to amended section 70 is to read:5 Construction contracts to which Division applies6 17. Section 71 amended7 (1) In section 71(1) and (2) delete “Part” and insert:8 9 Division10 11 (2) In section 71(3) delete “Part —” and insert:12 13 Division —14 15 (3) In section 71(5)(b) delete “Part” and insert:16 17 Division18 19 18. Section 72 amended20 (1) In section 72(1) and (2) delete “Part” and insert:21 22 Division23 24 (2) Delete section 72(3).25

Building and Construction Industry (Security of Payment) Amendment Bill 2026 Part 2 Building and Construction Industry (Security of Payment) Act 2021 amended s. 19 page 16 19. Section 73 amended1 In section 73 in the note delete “Part.” and insert:2 3 Division.4 5 20. Section 74 amended6 (1) In section 74(1) delete “Part” (each occurrence) and insert:7 8 Division9 10 (2) After section 74(1) insert:11 12 (1A) A party to a construction contract who, without13 reasonable excuse, fails to comply with subsection (1)14 commits an offence.15 Penalty for this subsection: a fine of $50 000.16 17 (3) In section 74(2) delete “Part” (each occurrence) and insert:18 19 Division20 21 (4) After section 74(5) insert:22 23 (6) Despite subsections (4) and (5), a single retention24 money trust account must be established for all25 retention money required to be retained under a26 contract for which a construction trust is created under27 Division 2.28 29