30Adjustment of amount paid

30 Adjustment of amount paid

[Section 30 Amended by No. 54 of 2004, s. 23, Applied:01 Mar 2005] If the Board is satisfied that the actual value of the building or construction work on completion varies by an amount of $25 000 or such other amount as may be prescribed from the estimated value–

(a) the Board shall refund to the project owner an amount equal to the excess levy paid; or

(b) [Section 30 Amended by No. 54 of 2004, s. 23, Applied:01 Mar 2005] the project owner shall pay to the Board or a collection agency an amount equal to the additional levy that would have been payable if the estimated value of that work had been the actual value of that work.