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Update on Construction (Retention Deposit Schemes) Bill (‘Aldous Bill’)

BCSA has heard that Second Reading of the ‘Aldous Bill’ – to ensure that retention monies are protected in ring fenced accounts – has been delayed until 26 October.

BCSA will be taking the opportunity to engage with govt. Ministers and officials in BEIS and to pursue its objectives:

  • Legislation for ring fencing retentions as an intermediate step towards
  • Legislation to ban retentions altogether
  • No retentions on government projects immediately