Building and Construction Industry (Security of Payment) Regulations 2022

This code of practice is the Building and Construction Industry (Security of Payment) Authorised Nominating Authorities Code of Practice.

2. Terms used

Act means the Building and Construction Industry (Security of Payment) Act 2021;

confidential information means information that is the subject of a duty of confidentiality or secrecy or that is of a commercially sensitive nature;

conflict of interest includes a perceived or potential conflict of interest;

family member means a spouse or de facto partner, former spouse or de facto partner, child, mother, mother‑in‑law, father, father‑in‑law, grandparent, sibling or sibling‑in‑law;

officer has the meaning given in the Corporations Act 2001 (Commonwealth) section 9.

3. Compliance with code of practice

Authorised nominating authorities are, under section 97 of the Act, required to perform their functions under the Act in accordance with this code of practice.

Note for this clause:

Under section 97(3) of the Act, a contravention of this code of practice by an authorised nominating authority may be taken into account by the Building Commissioner under Part 5 Division 1 of the Act (for example, in deciding to impose conditions on the authorisation of the authority or to revoke the authorisation of the authority).