Save as PDFThe Queensland Government has announced that the new security for payment regime under the Building Industry Fairness (Security of Payment) Act 2017 (Qld) (BIFA), will no longer commence on 1 July 2018 as originally announced. Instead, it is likely that the new reforms will not commence until 17 December 2018.
That means until further notice:
- The Building and Construction Industry Payments Act 2004 (Qld) (BCIPA) will remain in force;
- BCIPA will still apply for the security of payment regime in Queensland; and
- Payment Claims still have to be endorsed as a “payment claim made under the Building and Construction Industry Payments Act 2004”.
As part of the announcement, the Queensland Government advised of the appointment of the Building Industry Fairness Reforms Implementation and Evaluation Panel (the Panel). The Panel will work with the government and industry stakeholders to determine:
- the effectiveness of the government’s implementation of building industry reforms;
- opportunities to improve the security of payment regime before project bank accounts apply to private sector projects; and
- the potential impacts and outcomes of the building industry reforms.
We will keep you updated on further developments.
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