INDUSTRIAL TRAINING (CONSTRUCTION INDUSTRY) ORDINANCE
Value of construction works
Caution : This is a past version. See the current version for the latest position.
(1) In ascertaining the value of construction works for the purposes of this Ordinance, regard shall be given to-
(a) in the case of construction works performed pursuant to a contract, the consideration, or such part of the consideration as is attributable to the construction works, payable to the contractor under the contract, which shall be evidence, but not conclusive evidence, of the value of the construction works;
(b) the cost or value of materials used in the construction works;
(c) the cost or value of time, work and labour involved in the construction works;
(d) the equipment used in the construction works;
(e) such overhead costs as may be considered reasonable;
(f) the reasonable profit to be expected on the open market in respect of the performance of such construction works;
(g) any other factors that may be prescribed.
(2) In the case of any construction works to be undertaken or carried out in stages the total value of all stages of the construction works shall be the value of the construction works for the purposes of subsection (1).