Statutory trust framework (project trusts and retention trusts)

Building Industry Fairness (Security of Payment) and Other Legislation Amendment Bill 2020

This bill overhauls Queensland's building industry payment protections by replacing project bank accounts with a new statutory trust system that holds subcontractor money in trust. It also cracks down on fraudulent behaviour in the industry, introduces a demerit point system for building certifiers, strengthens regulation of architects and engineers, and preserves review rights for retirement village transition plans.