Subcontractors law changed to protect their money – Woods

(Image: Getty)

Thu, 30 Mar 2023

The government says it has passed legislation to safeguard subcontractors' retention money and ensure strict penalties for companies who fail to meet their obligations to subcontractors. The minister for building and construction, Megan Woods, said on Thursday that the Construction Contracts (Retention Money) Amendment Act had been passed to provide “important protections” for subcontractors.She said subcontractors were often the first to miss out in the event of a construction company becoming insolvent.“While it is...

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