sec.14CSubcontracts with related entities require project trusts

### sec.14C Subcontracts with related entities require project trusts A subcontract is eligible for a project trust if— the subcontract is a first tier subcontract for a head contract; and a project trust is required for the head contract; and the subcontractor is a beneficiary of the project trust for the head contract; and the subcontractor is a related entity for the contracted party for the head contract. The contracted party for the head contract would also be the contracting party for the subcontract. To remove any doubt, it is declared that the subcontractor continues to be a beneficiary of the project trust for the head contract. s 14C ins 2020 No. 24 s 63 (sec.14C-ssec.1) A subcontract is eligible for a project trust if— the subcontract is a first tier subcontract for a head contract; and a project trust is required for the head contract; and the subcontractor is a beneficiary of the project trust for the head contract; and the subcontractor is a related entity for the contracted party for the head contract. The contracted party for the head contract would also be the contracting party for the subcontract. (sec.14C-ssec.2) To remove any doubt, it is declared that the subcontractor continues to be a beneficiary of the project trust for the head contract. - (a) the subcontract is a first tier subcontract for a head contract; and - (b) a project trust is required for the head contract; and - (c) the subcontractor is a beneficiary of the project trust for the head contract; and - (d) the subcontractor is a related entity for the contracted party for the head contract. Note— The contracted party for the head contract would also be the contracting party for the subcontract.