LET'S ACT NOW ON RETENTIONS

摘要

Let's consider a bit of recent history. In October 2015 a Specialist Engineering _Contractors' Group-inspired amendment (laid by Lord Aberdare in the House of Lords) to the (then) Enterprise Bill prompted the government to announce a review of the practice of retentions. The review, carried out by consultant Pye Tait, recommended that a statutory retention deposit scheme (RDS) was the most viable option for eliminating some of the critical issues associated with retentions. It was published alongside a consultation document. The consultation closed in January 2018.