Payment Times Reporting Act 2020

PART 1 - PRELIMINARY  

SECTION 4   SIMPLIFIED OUTLINE OF THIS ACT  

This Act requires certain entities to report their payment terms, times and practices, and those of certain other entities they control, in relation to their small business suppliers. Other entities may volunteer or nominate to give reports.

A reporting entity or reporting nominee must give regular reports to the Payment Times Reporting Regulator. These reports are published on a publicly available register, known as the Payment Times Reports Register.

The Regulator is to be an SES employee in the Department. The functions of the Regulator include monitoring and enforcing compliance with this Act, and undertaking research and publishing reports and analysis on the payment terms, times and practices of reporting entities and reporting nominees.

 View history note

 Hide history note

History

S 4 substituted by No 65 of 2024, s 3 and Sch 1 item 3, effective 7 September 2024. For application and transitional provisions, see note under s 3 . S 4 formerly read:

SECTION 4 SIMPLIFIED OUTLINE OF THIS ACT  

This Act requires certain entities that carry on an enterprise in Australia to report their payment terms and practices in relation to their small business suppliers. Other entities may elect to report voluntarily.

A reporting entity must give the Payment Times Reporting Regulator a report for each period of 6 months. The Regulator keeps the reports on a publicly available register, known as the Payment Times Reports Register.

The Regulator is to be an SES employee in the Department. The functions of the Regulator include monitoring and enforcing compliance with this Act.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.