Queensland building legislation labelled 'not fit for purpose'
In this API Magazine exclusive, a senior executive of a construction payments platform has branded Queensland's legislation around building industry subcontractor payment protections as outdated, rife with loopholes, and overly complex.
Legislation designed to protect subcontractors from building company collapses is in danger of letting the industry down, according to Paul Reid, Head of Strategy and Operations at construction payments platform IPEX. (Image source: Shutterstock.com)
Measures taken by the Queensland Government to stem the bleeding in the construction industry that has inflicted so much pain on building subcontractors have been branded ineffective by a construction payments platform with first-hand experience of the legislation’s alleged shortfalls.
Aware that insolvency is higher in the construction industry - a $360 billion dollar sector - than in any other industry in Australia, the Queensland Building and…
