Payment Times Reporting Act 2020

This Part provides for various ways that an entity can become, or cease to be, a reporting entity.

This Part also provides for entities to nominate as reporting nominees, and provide payment times reports relating to other entities they control.

Division 2 provides for a constitutionally covered entity to apply to the Regulator to volunteer to be a reporting entity.

Division 3 provides for subsidiary reporting entities. A constitutionally covered entity, that is controlled by another entity that is a reporting entity, may apply to the Regulator to become a reporting entity in its own right.

Division 4 provides for ways for an entity to cease to be a reporting entity.

Division 5 provides for reporting nominees.

Division 6 provides for the Regulator to exempt reporting entities and reporting nominees from reporting obligations.

Division 7 provides for the rules to require reporting entities and reporting nominees to give information about themselves, and other entities they control, to the Regulator.