Payment Times Reporting Act 2020
Former reporting nominees
55A(1)
The requirement for a reporting nominee to give the Regulator a payment times report under section 12 for a reporting period continues to apply to the reporting nominee if: (a) the reporting nominee has not given the Regulator a payment times report for the reporting period under that section; and (b) the reporting nominee ceases to be a reporting nominee at any time after the end of the reporting period.
Other rights and obligations
55A(2)
The following provisions continue to apply to a reporting nominee that has ceased to be a reporting nominee as if it were still a reporting nominee: (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).
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