Review of Security of Payment Act
Small Business Commissioner John Chapman has released a discussion paper flagging further changes to the Security of Payment Act.

The Paper suggests a staged approach to the changes. Stage One would see penalties for intimidation under the Act, the ability to publish the outcomes of adjudications and an acknowledgement of the Christmas shutdown period, as recommended by Master Builders SA in its initial submission, available here.

The Paper also raises the prospect of a Code of Conduct and new procedures to ensure subcontractors working on Government projects over $1 million are paid.

Stage Two would introduce two streams for resolving matters depending upon the complexity of the claim and the expansion of the Act to cover residential builders.

This is a fundamental issue for our industry with significant ramifications and will be discussed by all relevant Committees at their next available opportunity.

We recommend those interested download the Discussion Paper here and either send feedback directly to policy@mbasa.com.au by Friday July 29, 2016 or join coming sector Committee meetings to discuss the issue.