Payment Times Reporting Act 2020

PART 6 - MISCELLANEOUS  

Division 4 - Other matters  

SECTION 55   FORMER REPORTING ENTITIES  
Obligation to report

55(1)    
The requirement for a reporting entity to give the Regulator a payment times report for a reporting period for the entity under section 12 continues to apply to the entity if:

(a)    the entity has not given the Regulator a payment times report for the reporting period under that section; and

(b)    the entity ceases to be a reporting entity at any time after the end of the reporting period.

55(1A)    
Subsection (1) does not apply if the entity was a volunteering entity during the reporting period.

Other rights and obligations

55(2)    
The following provisions continue to apply to an entity that has ceased to be a reporting entity, as if it were still a reporting entity:

(a)    section 15 (civil penalty provision for failure to report);

(b)    section 16 (false or misleading reports);

(c)    Division 3 of Part 2 (access to payment times reports);

(d)    Division 2 of Part 4 (obligations of reporting entities and reporting nominees);

(e)    Division 2 of this Part (treatment of certain kinds of entities).