On 21 October 2019 significant amendments to the Security of Payments legislation commenced in NSW.
Notable amendments to the Building and Construction Industry Security of Payments Act 1999 by the Building and Construction Industry Security of Payment Amendment Act 2018 include:
- removal of the term ‘reference date’;
- new criteria establishing entitlement to receive a progress payment;
- requirement for a payment claim to state that it is made under the Act;
- reduction of due date for payment from 30 days to 20 days from service of a payment claim made to a subcontractor;
- ability for claimant to withdraw an adjudication application; and
- ability of the Supreme Court to set aside adjudicator’s determination for jurisdictional error.
The By Lawyers Security of Payments commentary, precedents and matter plan have been updated accordingly.