Over two years after the bill was first introduced to Parliament, the Construction Contracts Amendment Act has passed. The majority of the Act comes into force on 1 December 2015, with the following provisions brought into force at later dates:
- 1 September 2016: Amendments to the meaning of construction work to also include design, engineering and quantity surveying work
- 31 March 2017: Amendments applying to retentions.
Click here for Building and Housing Minister Nick Smith’s full media statement on the passage of the Act. Dr Smith concludes:
‘New Zealand is on the cusp of a building boom which is projected to reach unprecedented levels in the next few years. This new construction law is about underpinning this strong growth with improved standards of business and building practice.’
We have blogged about the various stages of the Bill – click here for our 18 October post including key areas to look out for in the final text.
The amendments are also covered by the Ministry of Business, Innovation and Employment website, including the changes to retention payments and how adjudication and enforcement will work under the changes to the Act.