In the August 2010 edition of Acumen, we outlined the key features of the new Building and Construction Industry Security of Payment Act 2009 (SA). It was anticipated that the Act would come into operation later in 2010 once the regulations had been finalised.
The commencement of the Act has been delayed. We understand from recent Parliamentary statements reported in Hansard that the delay has resulted from more work than was anticipated being required on setting up the structures and processes for implementing the legislation.
The work on the regulations has commenced and the South Australian Parliament expects that the Act and regulations are likely to commence at the end of 2011.
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