Section sec.14A - Building Industry Fairness (Security of Payment) Act 2017 - Eligibility of contract for project trust when contract amended

sec.14AEligibility of contract for project trust when contract amended

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### sec.14A Eligibility of contract for project trust when contract amended A contract does not cease to be eligible for a project trust because of an amendment of the contract. A contract that was not, at the time it was entered into, eligible for a project trust becomes eligible for a project trust on the amendment of the contract if— the contract is amended; and the contract would have been eligible for a project trust had it been in its amended form, including any earlier amendments, when it was entered into; and the amended contract— increases the original percentage of the contract price that is for project trust work by 30% or more; or increases the original contract price by 30% or more. s 14A ins 2020 No. 24 s 63 sub 2024 No. 14 s 26 (sec.14A-ssec.1) A contract does not cease to be eligible for a project trust because of an amendment of the contract. (sec.14A-ssec.2) A contract that was not, at the time it was entered into, eligible for a project trust becomes eligible for a project trust on the amendment of the contract if— the contract is amended; and the contract would have been eligible for a project trust had it been in its amended form, including any earlier amendments, when it was entered into; and the amended contract— increases the original percentage of the contract price that is for project trust work by 30% or more; or increases the original contract price by 30% or more. - (a) the contract is amended; and - (b) the contract would have been eligible for a project trust had it been in its amended form, including any earlier amendments, when it was entered into; and - (c) the amended contract— (i) increases the original percentage of the contract price that is for project trust work by 30% or more; or (ii) increases the original contract price by 30% or more. - (i) increases the original percentage of the contract price that is for project trust work by 30% or more; or - (ii) increases the original contract price by 30% or more. - (i) increases the original percentage of the contract price that is for project trust work by 30% or more; or - (ii) increases the original contract price by 30% or more.