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Tasmania, ACT and South Australia adopt Security of Payment legislation

All Australian States and Territories now have, or are about to have, Security of Payment legislation.

Tasmania’s Building and Construction Industry Security of Payment Act 2009 came into force on 17 December 2009.

The Australian Capital Territory’s Building and Construction Industry (Security of Payment) Bill 2009 is due to come into operation on 1 July 2010.

South Australia’s Building and Construction Industry Security of Payment Act 2009 is expected to come into operation during 2010 (on a date yet to be fixed).

The Tasmanian, ACT and South Australian Security of Payment legislation is similar to that already in force in New South Wales, Victoria, Queensland, Western Australia and the Northern Territory. The principal objective of the scheme is to reform payment behaviour in the building and construction industry throughout Australia.