Insights

On 25 September 2013 the NSW Court of Appeal handed down its decision in the case of The Owners-Strata Plan No 61288 v Brookfield Australia Investments Ltd [2013] NSWCA 317.

Head contractors entering into construction contracts with a value greater than $20 million and who hold cash retentions from their subcontractors will be subject to increased regulation as a result of the Building and Construction Industry Security of Payment Amendment (Retention Trust Money Account) Regulation 2015 (‘Regulation’).