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ARTICLE · 23 JUNE 2018

One security of payment regime to rule them all?

Corrs Chambers Westgarth
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The Commonwealth government has released its eagerly awaited Review of Security of Payment Laws (Murray Review),.

AustraliaReal Estate and Construction
Andrew McCormack
Andrew McCormack
Samuel Wolf
Samuel Wolf
Wayne Jocic
Wayne Jocic
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The Commonwealth government has released its eagerly awaited Review of Security of Payment Laws.

The plural is telling. It is no news to anyone in the industry that there is different legislation in each State and Territory. This legislation has been repeatedly amended. Unsurprisingly, the first and critical recommendation in the Review of Security of Payment Laws is a call for greater simplicity:

'Security of payment legislation should seek to promote prompt payment so as to maintain a contractor's cash flow. Such an outcome is more effectively achieved through adoption of a legislative regime broadly based on the East Coast Model.'

WHAT WAS THE MURRAY REVIEW?

The Review of Security of Payment Laws (Murray Review) was conducted by John Murray AM. Mr Murray is a lawyer and adjudicator, and a former national executive director of the Master Builders Association, among many other appointments.

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