On the 15th October 2009, Mr John Hargreaves MLA, Minister for Industrial Relations presented a bill for Security of Payment to the Legislative Assembly that will institute a statutory system is put in place to regulate the building and construction industry to quickly resolve payment disputes through an adjudication process.
The Minister commented that his reasoning behind this Bill is for “The building and construction industry plays a critical role in the ACT economy. Throughout the 2007-08 financial year, there were over 15,000 people employed in the construction industry, and the value of building, construction and engineering work done in the ACT exceeded $2 billion.”
Similar to the New South Wales and Queensland Security of Payment Acts, this Act is designed to facilitate recovery of payments under construction contracts in the building and construction industry, and for other purposes. The Act will commence on the 1st July 2010. For more information on this please contact the DRS office on 1300 953 459.
