The Hugo Group

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Construction Contracts (Retention Money) Amendment Bill

Introduced on June 1. The Bill makes changes to the retention money regime including; clarifying retention money held on trust must be kept separate from other money or assets and introducing offences and penalties for companies and directors for not complying with requirements. First reading on June 6 supported by all parties and referred to the Transport and Infrastructure Committee. Reported back Nov 22 2o21 with a large number of mainly technical changes. Second reading on Aug 23 with all parties in support. Committee stage and third reading completed on March 29 with all parties in favour. Construction Contracts (Retention Money) Amendment Bill