Consultation period: 23/09/2019 9:00 am to 11/10/2019 5:00 pm
What is this about?
The NSW Government is currently introducing reforms to the Building and Construction Industry Security of Payment Act 1999 (the Act) which will allow the Minister to make a code of practice to be observed by authorised nominating authorities (ANAs) in relation to their activities under the Act.
The proposed new code of practice will replace existing codes that ANAs are subject to, with changes to improve and clarify what can be expected from an ANA.
Key changes included in the proposed code of practice include:
- clarifying minimum expected standards of behavior
- improved requirements for complaint handling
- clarifying minimum expectations for disclosing fees
- offences for contraventions of specified provisions
- requirements for managing adjudicator panels
- clarifying professional management standards.
What has happened so far?
The Building and Construction Industry Security of Payment Amendment Act 2018 was assented to on 28 November 2018 and will commence on 21 October 2019. It contains reforms to the Act to promote cash flow in the supply chain, increase transparency of payment and provide greater protections to subcontractors.
- May 2019 - Initial consultation on statutory trusts paper
- June 2019 - Exposure draft of the Regulation to be released for public consultation
- August 2019 - Final report received from consultant for statutory trusts
- September 2019 - Submissions for Authorised Nominating Authority code of practice opens
- October 2019 - Submissions for Authorised Nominating Authority code of practice close