Regulatory Systems (Commercial Matters) Amendment Bill

  • enacted
138 Section 11A amended (Application of this Act: savings provisions relating to Construction Contracts Amendment Act 2015)

After section 11A(2), insert:

(3)

Subpart 2A of Part 2 (which relates to retention money) does not apply to a construction contract that was entered into before 31 March 2017 unless—

(a)

the contract is renewed for a further term on or after 31 March 2017 (in which case that subpart applies only in relation to retention money withheld during the further term); or

(b)

the parties agree that subpart 2A will apply.