King & Wood Mallesons

Asia-Pacific 100 position: 3

QBCC Act amendments exempt SPVs from holding a building licence for Queensland PPPs

Recent amendments to the Queensland Building and Construction Commission Act 1991 (Qld) (QBCC Act), previously the Queensland Building Services Authority Act, now mean that a ‘special-purpose vehicle’ carrying out a public-private partnership (PPP) in Queensland is not required to hold a contractor’s licence and can obtain security from its subcontractors, prior to practical completion, that is in excess of the current restriction of five per cent of the ‘contract price’, provided the requirements of the QBCC Act are complied with.

The QBCC Act regulates a number of matters relating to project agreements, construction contracts and operator agreements in a PPP, including requiring any contracting party who carries out, or undertakes to carry out, ‘building work’ to hold a contractor’s licence of the appropriate class (section 42 of the QBCC Act); and prior to practical completion, restricting the total value of all retentions to not more than five per cent of the ‘contract price’ (section 67K and 67L of the QBCC Act)…

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Overview

Level 61, Governor Phillip Tower
1 Farrer Place
Sydney
NSW 2000
Australia
http://www.kwm.com

Jurisdiction: PRC/Australia
No. of offices: 20
No. of qualified lawyers: 1,252