Upcoming changes to retention money

Based on feedback from the sector, changes to the retention money regime are under way to ensure more protection for subcontractors, improve compliance and ensure requirements for the retention money regime are met

In 2019, the Ministry of Business, Innovation and Employment (MBIE) commissioned KPMG to undertake an implementation review of the retention money regime under the Construction Contracts Act 2002 (CCA), to assess its early impacts and the industry’s response to the retention money regime.

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