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Building Industry Fairness (Security of Payment) Act 2017
sec.25Contracted party to report related entities
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### sec.25 Contracted party to report related entities
This section applies if—
a project trust is established for a contract; and
the contracted party enters into a subcontract with a related entity for the party.
The contracted party must, using an approved way, inform the commissioner about entering into the subcontract with the related entity within 5 business days after entering into the subcontract.
Maximum penalty—200 penalty units.
s 25 amd 2018 No. 17 s 176I
sub 2020 No. 24 s 63
(sec.25-ssec.1) This section applies if— a project trust is established for a contract; and the contracted party enters into a subcontract with a related entity for the party.
(sec.25-ssec.2) The contracted party must, using an approved way, inform the commissioner about entering into the subcontract with the related entity within 5 business days after entering into the subcontract. Maximum penalty—200 penalty units.
- (a) a project trust is established for a contract; and
- (b) the contracted party enters into a subcontract with a related entity for the party.