sec.67ADefinitions for pt 4A

### sec.67A Definitions for pt 4A In this part— approved security provider means a financial institution that is an approved security provider under the Financial Accountability Act 2009 . s 67A def approved security provider amd 2009 No. 9 s 136 sch 1 building contract see section 67AAA . s 67A def building contract sub 2004 No. 6 s 113 sch 1 carry out building work means— carry out building work personally; or directly or indirectly, cause building work to be carried out; or provide advisory, administrative, management or supervisory services for carrying out building work. commercial building contract means a building contract that is not a construction management trade contract or a subcontract. construction management trade contract means a building contract described in section 67B . contracted party , for a building contract, means the party to the contract who is to carry out the building work the subject of the contract. contracting party , for a building contract, means the party to the contract for whom the building work the subject of the contract is to be carried out. contract price ... s 67A def contract price om 2017 No. 43 s 275(1) defects liability period , for a building contract, means— the period worked out under the contract as being the period that— starts on the day of practical completion for the building work carried out under the contract; and ends on the last day any omission or defect in the building work, carried out under the contract, may be required or directed to be rectified under the contract; or if the contract does not provide for a period mentioned in paragraph (a) —the statutory defects liability period under the Queensland Building and Construction Commission Act 1991 , section 67NA (2) . s 67A def defects liability period ins 2017 No. 43 s 275(2) payment claim see the Building Industry Fairness (Security of Payment) Act 2017 , section 68 . s 67A def payment claim ins 2004 No. 6 s 113 sch 1 sub 2017 No. 43 s 308 sch 1 practical completion , for building work carried out under a building contract, means— the day practical completion of the work is achieved, as worked out under the contract; or if the contract does not provide for the day practical completion of the work is achieved—the day the work is completed— in compliance with the contract, including all plans and specifications for the work and all statutory requirements applying to the work; and without any defects or omissions, other than minor defects or minor omissions that will not unreasonably affect the intended use of the work. s 67A def practical completion ins 2017 No. 43 s 275(2) principal means a person who is the contracting party for a building contract and who— is not a building contractor; or is a building contractor, but did not enter into the building contract in the course of carrying on business as a building contractor. progress payment see the Building Industry Fairness (Security of Payment) Act 2017 , section 64 . s 67A def progress payment sub 2004 No. 6 s 113 sch 1 ; 2017 No. 43 s 308 sch 1 retention amount , for a building contract, means an amount described in section 67C . security , for a building contract, means something— given to, or for the direct or indirect benefit of, the contracting party for the contract by or for the contracted party for the contract; and intended to secure, wholly or partly, the performance of the contract; and in the form of either, or a combination of both, of the following— an amount, other than an amount held as a retention amount for the contract; 1 or more valuable instruments, whether or not exchanged for, or held instead of, a retention amount for the contract. subcontract means a building contract described in section 67D . valuable instrument means any of the following— a banker’s undertaking; a bond; inscribed stock; a guarantee policy; an interest bearing deposit. variation , of a building contract, means an addition to, or an omission from, the building work the subject of the contract. written form ... s 67A def written form om 2004 No. 6 s 113 sch 1 s 67A ins 1999 No. 43 s 29 - (a) carry out building work personally; or - (b) directly or indirectly, cause building work to be carried out; or - (c) provide advisory, administrative, management or supervisory services for carrying out building work. - (a) the period worked out under the contract as being the period that— (i) starts on the day of practical completion for the building work carried out under the contract; and (ii) ends on the last day any omission or defect in the building work, carried out under the contract, may be required or directed to be rectified under the contract; or - (i) starts on the day of practical completion for the building work carried out under the contract; and - (ii) ends on the last day any omission or defect in the building work, carried out under the contract, may be required or directed to be rectified under the contract; or - (b) if the contract does not provide for a period mentioned in paragraph (a) —the statutory defects liability period under the Queensland Building and Construction Commission Act 1991 , section 67NA (2) . - (i) starts on the day of practical completion for the building work carried out under the contract; and - (ii) ends on the last day any omission or defect in the building work, carried out under the contract, may be required or directed to be rectified under the contract; or - (a) the day practical completion of the work is achieved, as worked out under the contract; or - (b) if the contract does not provide for the day practical completion of the work is achieved—the day the work is completed— (i) in compliance with the contract, including all plans and specifications for the work and all statutory requirements applying to the work; and (ii) without any defects or omissions, other than minor defects or minor omissions that will not unreasonably affect the intended use of the work. - (i) in compliance with the contract, including all plans and specifications for the work and all statutory requirements applying to the work; and - (ii) without any defects or omissions, other than minor defects or minor omissions that will not unreasonably affect the intended use of the work. - (i) in compliance with the contract, including all plans and specifications for the work and all statutory requirements applying to the work; and - (ii) without any defects or omissions, other than minor defects or minor omissions that will not unreasonably affect the intended use of the work. - (a) is not a building contractor; or - (b) is a building contractor, but did not enter into the building contract in the course of carrying on business as a building contractor. - (a) given to, or for the direct or indirect benefit of, the contracting party for the contract by or for the contracted party for the contract; and - (b) intended to secure, wholly or partly, the performance of the contract; and - (c) in the form of either, or a combination of both, of the following— (i) an amount, other than an amount held as a retention amount for the contract; (ii) 1 or more valuable instruments, whether or not exchanged for, or held instead of, a retention amount for the contract. - (i) an amount, other than an amount held as a retention amount for the contract; - (ii) 1 or more valuable instruments, whether or not exchanged for, or held instead of, a retention amount for the contract. - (i) an amount, other than an amount held as a retention amount for the contract; - (ii) 1 or more valuable instruments, whether or not exchanged for, or held instead of, a retention amount for the contract. - (a) a banker’s undertaking; - (b) a bond; - (c) inscribed stock; - (d) a guarantee policy; - (e) an interest bearing deposit.