55Payment of building bond

#### 55 Payment of building bond 55 Payment of building bond > > (1) The Secretary must not pay the whole or part of an amount secured by a building bond unless the Secretary has given at least 14 days written notice to the owners corporation, the developer of the strata scheme and the builder of the proposed payment. > > > (2) If an application to review a decision to pay the whole or part of an amount secured by a building bond is made in accordance with clause 56, the amount is not to be paid until the application for the review is determined or withdrawn. > > > (3) The Secretary may approve procedures relating to the payment by the Secretary of amounts secured by a building bond and publish the procedures on the website of the Department. > > **cl 55:** Am 2020 (323), Sch 1\[18\].