sec.14EPrescribed subcontracts require project trusts

### sec.14E Prescribed subcontracts 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 subcontract is a type of subcontract prescribed by regulation. To remove any doubt, it is declared that the subcontractor continues to be a beneficiary of the project trust for the head contract. s 14E ins 2020 No. 24 s 63 (sec.14E-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 subcontract is a type of subcontract prescribed by regulation. (sec.14E-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 subcontract is a type of subcontract prescribed by regulation.