sec.115Insufficient money available for claims

### sec.115 Insufficient money available for claims This section applies if— there are 2 or more subcontractors’ charges made against a contractor for the same contract; and the money that is, or is to become, payable to the contractor under the contract is insufficient to satisfy all of the subcontractors’ charges for the contract in full. The total amount recoverable under the subcontractors’ charges is reduced in proportion to the amounts of the charges. If there is a subcontractor’s charge for $5,000, another for $10,000 and the amount remaining to be paid to the contractor is only $12,000, the amount recoverable under the charges would be reduced to $4,000 and $8,000 respectively. The money mentioned in subsection (1) (b) includes money that is, or is to become, payable on the basis of a subcontractor’s charge on a security for the contract, including money payable under section 130 or under an order of the court under section 132 . Subsection (1) applies in relation to another subcontractor for a higher subcontract as if— a reference in the subsection to a contractor were a reference to the other subcontractor; and a reference in the subsection to the contract were a reference to the higher subcontract. s 115 amd 2018 No. 17 s 197 sch 2 (sec.115-ssec.1) This section applies if— there are 2 or more subcontractors’ charges made against a contractor for the same contract; and the money that is, or is to become, payable to the contractor under the contract is insufficient to satisfy all of the subcontractors’ charges for the contract in full. (sec.115-ssec.2) The total amount recoverable under the subcontractors’ charges is reduced in proportion to the amounts of the charges. If there is a subcontractor’s charge for $5,000, another for $10,000 and the amount remaining to be paid to the contractor is only $12,000, the amount recoverable under the charges would be reduced to $4,000 and $8,000 respectively. (sec.115-ssec.3) The money mentioned in subsection (1) (b) includes money that is, or is to become, payable on the basis of a subcontractor’s charge on a security for the contract, including money payable under section 130 or under an order of the court under section 132 . (sec.115-ssec.4) Subsection (1) applies in relation to another subcontractor for a higher subcontract as if— a reference in the subsection to a contractor were a reference to the other subcontractor; and a reference in the subsection to the contract were a reference to the higher subcontract. - (a) there are 2 or more subcontractors’ charges made against a contractor for the same contract; and - (b) the money that is, or is to become, payable to the contractor under the contract is insufficient to satisfy all of the subcontractors’ charges for the contract in full. - (a) a reference in the subsection to a contractor were a reference to the other subcontractor; and - (b) a reference in the subsection to the contract were a reference to the higher subcontract.