New Zealand Construction Contracts Act

The New Zealand Construction Contracts Act 2002 (CCA) is New Zealand’s construction-payment statute, providing statutory adjudication of payment disputes. A retention-money regime was added by the Construction Contracts Amendment Act 2015 (effective 31 March 2017), requiring retentions to be held on trust for subcontractors. After that regime failed on widespread non-compliance, the Construction Contracts (Retention Money) Amendment Act 2023 (in force 5 October 2023) strengthened it with mandatory labelled trust accounts at registered banks, quarterly reporting and offences for non-compliance.

Connections

• New Zealand — jurisdiction the Act governs, source: 2023
• Construction Adjudication — the Act provides statutory adjudication, source: 2023
• Retention Trust and Project Bank Accounts — the Act’s retention-trust regime, source: 2023
• Prompt Payment Legislation — the Act is a member of this family, source: 2023