171EFinancial probity requirements

171E Financial probity requirements

S. 171E(1) amended by No. 40/2021 s. 25(1).

(1) For the purposes of an application for registration under section 171(1)(a), the financial probity requirements are as follows—

(a) if the application is for registration as a builder in order to carry out domestic building work with a cost of more than the prescribed amount, whether the applicant is eligible to be covered by the required insurance in relation to managing, arranging or carrying out domestic building work with that cost;

(b) if the application is for any other category or class of registration, whether the applicant is covered by the required insurance;

(c) whether the person is or has been—

(i) an insolvent under administration; or

(ii) an externally administered body corporate within the meaning of the Corporations Act;

(d) whether the person has, is or has been disqualified from managing corporations under Part 2D.6 of the Corporations Act;

(e) whether an insurer has ever declined, cancelled, or imposed special conditions in relation to, the provision of professional indemnity insurance, public liability insurance or any other indemnity insurance in relation to the person in relation to work as a building practitioner in Victoria or in an equivalent occupation in the building and construction industry in another State or Territory;

(f) whether the applicant or, in the case of an applicant that is a body corporate, any director of the body corporate, has outstanding—

(i) any judgment debt for an amount recoverable by an insurer under a policy of insurance for domestic building work referred to in section 137A or 137B that has not been satisfied within the period required for satisfaction of that debt; or

(ii) any judgment debt for an amount owed to the Authority as a debt due under this Act that has not been satisfied within the period required for satisfaction of that debt; or

(iii) any judgment debt for an amount payable in relation to a domestic building dispute that has not been satisfied within the period required for satisfaction of that debt; or

(iv) any amount payable under any dispute resolution order (within the meaning of the Domestic Building Contracts Act 1995) or VCAT order requiring the payment of an amount in relation to a domestic building dispute that has not been paid within the period required for compliance with that order; or

S. 171E(1)(f)(v) substituted by No. 43/2025 s. 60.

(v) any adjudicated amount that has not under section 28M of the Building and Construction Industry Security of Payment Act 2002 been paid or released on or before the relevant date;