Big changes ahead for NSW security of payment legislation

By Richard Crawford

The Building and Construction Industry Security of Payment Amendment Bill 2013 (SOPA Amendments) was introduced to the New South Wales (NSW) Parliament and had its second reading on 24 October 2013. If passed the SOPA Amendments will change the way the construction industry in NSW makes its payments.

The major change in the SOPA Amendments is the insertion of time limits for payments to be made, reflecting the situation in Queensland and Western Australia. Currently NSW parties are free to agree when a payment is to be made under a construction contract. The SOPA Amendments provide maximum time limits where a progress payment is to be made: by a principal to a head contractor, 15 business days from the date of the making of a payment claim; and to a subcontractor, 30 business days from the date of the making of a payment claim…

If you are registered and logged in to the site, click on the link below to read the rest of the Minter Ellison briefing. If not, please register or sign in with your details below.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Minter Ellison

View more briefings from Minter Ellison

Overview

Level 19, Aurora Place
88 Phillip Street
Sydney
2000
Australia
http://www.minterellison.com

Jurisdiction: Australia
No. of offices: 10
No. of qualified lawyers: 791