Ongoing projects require careful status mapping; each phase is standalone for registration, financial records and delivery commitments.
Finin2min summary
Ongoing projects require careful status mapping; each phase is standalone for registration, financial records and delivery commitments.
Source review date: 4 July 2026. Read with the official text and the facts of the transaction.
Legal anchors
- Sections 3–5
- State rules on ongoing projects
How to analyse it
- Identify phase boundaries and shared infrastructure.
- Map bookings and completion status at commencement.
- Separate collections and obligations by phase.
- Disclose legacy agreements and revised timelines.
Practical illustration
A township has five phases, with two completed and three under construction. Registration, accounts and disclosures should be phase-specific while explaining shared amenities.
What can go wrong?
- Combining all phases in one account
- Moving cost between phases
- Unclear common-facility timeline
Evidence pack
- Phase map
- Booking register
- Cost allocation policy
- Legacy agreement schedule
Decision workflow
- Freeze the facts and effective date.
- Identify the controlling Act, rule, notification, circular and jurisdictional overlay.
- Prepare a calculation or exposure note.
- Collect the evidence pack before filing, payment, signing or response.
- Record reviewer conclusion and assumptions.
Quick Q&A
Is the result automatic?
No. Identify phase boundaries and shared infrastructure.
What is the most important control?
Disclose legacy agreements and revised timelines.
What should be escalated?
Combining all phases in one account, especially where money, deadlines, enforcement, personal liability or irreversible transaction steps are involved.
Official source trail
Secondary commentary may help interpretation, but it is not the source of law.