10Withdrawals from trust account

#### 10 Withdrawals from trust account 10 Withdrawals from trust account > > (1) A head contractor must not withdraw retention money from a retention money trust account except— > > > > > (a) for the purpose of the payment of the money in accordance with the terms of the construction contract under which the money was retained by the head contractor, or > > > > > (b) as may be agreed in writing by the head contractor and the subcontractor concerned, or > > > > > (c) for the purpose of the payment of the adjudicated amount that the head contractor is required to pay under section 23 of the Act, or > > > > > (d) in accordance with an order of a court or tribunal. > > > > Maximum penalty—In the case of a corporation, 1,000 penalty units or, in any other case, 200 penalty units. > > > (2) A head contractor must not withdraw retention money from a retention money trust account otherwise than by cheque or electronic funds transfer. > > > > Maximum penalty—In the case of a corporation, 1,000 penalty units or, in any other case, 200 penalty units.