NSWIn ForceRegulation
Building and Construction Industry Security of Payment Regulation 2020
14Closure of trust account
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#### 14 Closure of trust account
14 Closure of trust account
> A head contractor must, within 10 business days after closing a retention money trust account, notify the Secretary of the closure in writing.
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> Maximum penalty—In the case of a corporation, 1,000 penalty units or, in any other case, 200 penalty units.