17Payment of the amounts required to be retained under sections 15 and 16 may be made so as to discharge every lien or charge under this Act in respect thereof
(a)
on the expiration of sixty days after the completion or abandonment of the contract, if a claim of lien has not been filed or action commenced as provided herein, or
(b)
on the expiration of the ninety days mentioned in section 27 if action has not been commenced within that period as mentioned in that section.