55AACancellation of building bond

#### 55AA Cancellation of building bond 55AA Cancellation of building bond > For the Act, section 210A(c), the Secretary may provide to a developer any release necessary to enable a building bond for building work provided by the developer to be cancelled if— > > > (a) a final report on the building work— > > > > > (i) does not identify any defective building work, or > > > > > (ii) only identifies defective building work for which a building bond cannot be claimed or realised by the Secretary for payment under the Act, section 209, and > > > (b) the Secretary thinks it appropriate in the circumstances of the case to enable the building bond to be cancelled. > > **cl 55AA:** Ins 2024 (9), Sch 1\[3\].