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ARTICLE · 14 FEBRUARY 2017

Construction Agenda: Queensland proposals for project bank accounts

Cooper Grace Ward
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The Government is holding community and industry consultation and inviting feedback on a series of proposed reforms.

AustraliaReal Estate and Construction
Rocco Russo
Rocco Russo
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The Queensland Government is holding community and industry consultation and inviting feedback on a series of proposed reforms for the Queensland building and construction industry. The wide-ranging proposals are set out in the Queensland Building Plan Discussion Paper released in November last year, as well as in a number of supporting fact sheets.

A key area of reform is Queensland's security of payment system, following on from issues raised and proposals made in the Security of Payment Discussion Paper released by the Government in late 2015.

On the security of payment front, the 'centrepiece' of the proposed suite of measures is project bank accounts (PBAs), with the Government announcing at the end of last year that it was in the process of preparing legislation to phase in PBAs across the State. Our comments below are based on some of the of the initial consultation documents that have been released on this issue.

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