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Building Industry Fairness (Security of Payment) Act 2017
sec.11What is a project trust
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### sec.11 What is a project trust
A project trust is a trust—
over amounts—
payable in connection with a project trust contract or project trust subcontract; and
required to be deposited in the project trust account under this chapter; and
primarily for the benefit of subcontractors for the project trust contract.
s 11 amd 2018 No. 17 s 176F
sub 2020 No. 24 s 63
amd 2024 No. 14 s 22
- (a) over amounts— (i) payable in connection with a project trust contract or project trust subcontract; and (ii) required to be deposited in the project trust account under this chapter; and
- (i) payable in connection with a project trust contract or project trust subcontract; and
- (ii) required to be deposited in the project trust account under this chapter; and
- (b) primarily for the benefit of subcontractors for the project trust contract.
- (i) payable in connection with a project trust contract or project trust subcontract; and
- (ii) required to be deposited in the project trust account under this chapter; and