In October 2019, the Building
and Construction Industry Security of Payment Act 1999 (NSW)
(Act), was amended and the changes apply
to Construction Contracts entered into after 21 October
2019.
These changes have wide ranging impacts throughout the
construction industry, including principals, sub-contractors and
head contractors.
A brief summary of the major amendments is provided below.
Comparison of Key Amendments
| Amendment |
Contracts entered into pre-October 2019 |
Contracts entered into post-21 October
2019 |
| Reference Dates |
A right to payment arises on and from each reference date.
A reference date arises at the end of each month or in
accordance with the terms of the construction contract. |