The 2023 Legislative Programme (which sets out the main pieces of legislation which the Government plans to introduce) has included a section for the Construction Industry Security of Payment Bill to be introduced into the Legislative Council in the 2nd half of 2023 legislative session.
The Construction Industry Security of Payment Bill aims at improving the payment practices and cash flow along the supply chain in the construction industry and introducing a rapid and binding adjudication process to resolve payment disputes.
Further articles relating to this Construction Industry Security of Payment Legislation written by Deacons can be found here: 15 October 2021 and 19 August 2022.
For further information, please contact:
Joseph Chung, Partner, Deacons