A judgment debt arising from an adjudication determination under the Building and Construction Industry (Security of Payment) Act 1999 (NSW) can be the subject of an offsetting claim under s 459H(5) of the Corporations Act 2001 (Cth). The definition of 'offsetting claim' is perfectly general and is not limited by the source of the underlying debt. The BACISOP Act does not render the Corporations Act's offsetting claim regime inapplicable, because the Commonwealth Act cannot be construed or limited by reference to the intention of a State Act. However, a claimed offset must be supported by sufficient evidence showing the basis on which it is made and how its quantum is made up.
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