Commission stands firm on building company's suspension
A SUSPENSION remains in place on the licence of Sunshine Coast builder the RGD Group for failure to satisfy financial requirements relating to its asset base.
The company has 28 days to satisfy the Queensland Building and Construction Commission it can meet the requirement before the licence is cancelled.
RGD Group director Ron Grabbe said his team was working to provide the QBCC with the level of detail it required.
New minimum financial requirements were introduced on January 1 for QBCC licences. The regulation required QBCC licensees who held a contractor grade licence to comply with annual financial reporting obligations by March 31. Companies that didn't meet the minimum financial requirements for the class of licence it held faced suspension or cancellation of their licence to operate.
RGD Group holds a Category 5 licence enabling it to complete projects valued at between $60m and $120m annually.
Where a suspended company was subsequently able to demonstrate to the QBCC that it could meet its financial requirements, the QBCC then considered reinstatement if it formed the view the company would be able to fulfil all the requirements.