Payment Times Reporting Act 2020
Reporting entities that are not volunteering entities
16(1)
A reporting entity is liable to a civil penalty if: (a) the entity gives the Regulator a payment times report; and (b) the report is false or misleading in a material particular; and (c) the entity is not a volunteering entity.
Civil penalty: 350 penalty units.
16(2)
For the purposes of subsection (1) , the reference in paragraph 82(5)(a) of the Regulatory Powers Act to 5 times the pecuniary penalty specified for the civil penalty provision has effect as if it were a reference to 0.6% of the total income for the person for the income year in which the contravention occurred.
Note:
This subsection modifies the maximum pecuniary penalty that a body corporate can be ordered to pay for a contravention of subsection (1) .
Volunteering entities
16(3)
A volunteering entity must not give the Regulator a payment times report that is false or misleading in a material particular.
Reporting nominees
16(4)
A reporting nominee is liable to a civil penalty if: (a) the reporting nominee gives the Regulator a payment times report; and (b) the report is false or misleading in a material particular.
Civil penalty: 350 penalty units.
View history note
Hide history note16(5)
For the purposes of subsection (4) , the reference in paragraph 82(5)(a) of the Regulatory Powers Act to 5 times the pecuniary penalty specified for the civil penalty provision has effect as if it were a reference to 0.6% of the total income for the person for the income year in which the contravention occurred.
Note:
This subsection modifies the maximum pecuniary penalty that a body corporate can be ordered to pay for a contravention of subsection (4) .
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