QLDIn ForceAct
Building Industry Fairness (Security of Payment) Act 2017
sec.51DInterest earned on amounts held in trust account
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### sec.51D Interest earned on amounts held in trust account
The trustee for a project trust or retention trust is entitled to receive all interest earned on amounts held in the trust account.
The trustee may withdraw an amount equal to the interest earned on amounts held in the trust account once every 12 months or on the dissolution of the trust, unless the withdrawal would prevent the full payment of another amount that must be paid from the account.
s 51D ins 2020 No. 24 s 63
(sec.51D-ssec.1) The trustee for a project trust or retention trust is entitled to receive all interest earned on amounts held in the trust account.
(sec.51D-ssec.2) The trustee may withdraw an amount equal to the interest earned on amounts held in the trust account once every 12 months or on the dissolution of the trust, unless the withdrawal would prevent the full payment of another amount that must be paid from the account.