Building Industry Fairness (Security of Payment) Regulation 2018
sch.1AA-sec.2-oc.4Notice about withdrawal of retention amount from retention trust account to pay contracted party
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sch.1AA-sec.2-oc.4 Notice about withdrawal of retention amount from retention trust account to pay contracted party
The following information must be included in the notice— the amount to be paid; identification of the payment claim to which the withdrawal relates, if any; the name of the account (the payment account ) the amount is to be paid to; the identifying number of the financial institution (BSB) where the payment account is kept; the account number, at the financial institution, for the payment account; the total retention amounts held in the retention trust account, after the withdrawal, for the contracted party under the contract to which the withdrawal relates; the date the amount is to be paid.
- (a) the amount to be paid;
- (b) identification of the payment claim to which the withdrawal relates, if any;
- (c) the name of the account (the payment account ) the amount is to be paid to;
- (d) the identifying number of the financial institution (BSB) where the payment account is kept;
- (e) the account number, at the financial institution, for the payment account;
- (f) the total retention amounts held in the retention trust account, after the withdrawal, for the contracted party under the contract to which the withdrawal relates;
- (g) the date the amount is to be paid.