sec.97CObligation of higher party to retain amount payable to respondent

### sec.97C Obligation of higher party to retain amount payable to respondent This section applies if a claimant gives a payment withholding request to a higher party for an adjudicated amount. The higher party must retain, out of the related amount payable to the respondent, either the adjudicated amount or the related amount payable to the respondent, whichever is less. If the adjudicated amount is $55,000 but the amount payable to the respondent is only $40,000, the higher party’s obligation is to retain $40,000. If the adjudicated amount is $55,000 and the amount payable to the respondent is $120,000, the higher party’s obligation is to retain $55,000. Maximum penalty—50 penalty units. The obligation under subsection (2) remains in force only until the claimant is paid the adjudicated amount. A part payment of the adjudicated amount removes the obligation under subsection (2) to the extent of the part payment. If the claimant is paid the adjudicated amount, the claimant must inform the higher party of the payment within 5 business days after the amount is paid. Maximum penalty—50 penalty units. In this section— related amount payable to the respondent see section 97B (3) . s 97C ins 2020 No. 24 s 73 (sec.97C-ssec.1) This section applies if a claimant gives a payment withholding request to a higher party for an adjudicated amount. (sec.97C-ssec.2) The higher party must retain, out of the related amount payable to the respondent, either the adjudicated amount or the related amount payable to the respondent, whichever is less. If the adjudicated amount is $55,000 but the amount payable to the respondent is only $40,000, the higher party’s obligation is to retain $40,000. If the adjudicated amount is $55,000 and the amount payable to the respondent is $120,000, the higher party’s obligation is to retain $55,000. Maximum penalty—50 penalty units. (sec.97C-ssec.3) The obligation under subsection (2) remains in force only until the claimant is paid the adjudicated amount. (sec.97C-ssec.4) A part payment of the adjudicated amount removes the obligation under subsection (2) to the extent of the part payment. (sec.97C-ssec.5) If the claimant is paid the adjudicated amount, the claimant must inform the higher party of the payment within 5 business days after the amount is paid. Maximum penalty—50 penalty units. (sec.97C-ssec.6) In this section— related amount payable to the respondent see section 97B (3) . s 97C ins 2020 No. 24 s 73