113 Prohibition of conditional payment provisions
Housing Grants, Construction and Regeneration Act 1996 (1996 c 53) | Legislation

113  Prohibition of conditional payment provisions

(1)     A provision making payment under a construction contract conditional on the payer receiving payment from a third person is ineffective, unless that third person, or any other person payment by whom is under the contract (directly or indirectly) a condition of payment by that third person, is insolvent.

(2)     For the purposes of this section a company becomes insolvent—

[(a)     when it enters administration within the meaning of Schedule B1 to the Insolvency Act 1986,]

(b)     on the

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