Building Industry Fairness (Security of Payment) Regulation 2018
sec.48Transitioning to new scheme— Act , s 211C
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sec.48 Transitioning to new scheme— Act , s 211C
For section 211C (5) of the Act , this section prescribes the information to be included in a notice given to a beneficiary affected by the trustee transitioning to the new scheme. The information to be included in the notice is an electronic or hard copy of the trust account framework guide. However, subsection (2) does not apply if the trustee has previously given the information to the beneficiary. In this section— new scheme see section 211C (9) of the Act . trust account framework guide means the document, made by the commission, that explains the requirements of chapter 2 of the Act . s 48 ins 2020 SL No. 241 s 16 (sec.48-ssec.1) For section 211C (5) of the Act , this section prescribes the information to be included in a notice given to a beneficiary affected by the trustee transitioning to the new scheme. (sec.48-ssec.2) The information to be included in the notice is an electronic or hard copy of the trust account framework guide. (sec.48-ssec.3) However, subsection (2) does not apply if the trustee has previously given the information to the beneficiary. (sec.48-ssec.4) In this section— new scheme see section 211C (9) of the Act . trust account framework guide means the document, made by the commission, that explains the requirements of chapter 2 of the Act .