Commonwealth Coat of Arms of Australia

Payment Times Reporting (Consequential Amendments) Act 2020

No. 89, 2020

An Act to deal with consequential matters arising from the enactment of the Payment Times Reporting Act 2020, and for related purposes

[Assented to 17 September 2020]

The Parliament of Australia enacts:

1 Short title

This Act is the Payment Times Reporting (Consequential Amendments) Act 2020.

2 Commencement

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table	The day this Act receives the Royal Assent.	17 September 2020
2. Schedule 1, Part 1	At the same time as the Payment Times Reporting Act 2020 commences. However, the provisions do not commence at all if that Act does not commence.	1 January 2021
3. Schedule 1, Part 2	The later of: (a) immediately after the commencement of the Payment Times Reporting Act 2020; and (b) the commencement of the Federal Circuit and Family Court of Australia Act 2020. However, the provisions do not commence at all unless both of the events mentioned in paragraphs (a) and (b) occur.

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3 Schedules

Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

Part 1—General amendments

Taxation Administration Act 1953

1 Subsection 355‑65(8) in Schedule 1 (after table item 3)

Insert:

the Regulator (within the meaning of the Payment Times Reporting Act 2020)

(a) is of information relating to whether an entity is a reporting entity (within the meaning of the Payment Times Reporting Act 2020); and

(b) is for the purpose of enabling the Regulator to administer that Act.

2 Application of amendments

The amendment of subsection 355‑65(8) in Schedule 1 to the Taxation Administration Act 1953 made by this Part applies in relation to records and disclosures of information made at or after the commencement of this Part, whether the information was obtained before, at or after the commencement of this Part.

Part 2—Contingent amendments

Payment Times Reporting Act 2020

3 Section 5 (definition of Federal Circuit Court)

Repeal the definition.

4 Section 5 (paragraph (b) of the definition of issuing officer)

Omit “Federal Circuit Court”, substitute “Federal Circuit and Family Court of Australia (Division 2)”.

5 Section 5 (paragraph (b) of the definition of relevant court)

Repeal the paragraph, substitute:

(b) the Federal Circuit and Family Court of Australia (Division 2); or

[Minister’s second reading speech made in—

House of Representatives on 13 May 2020

Senate on 12 June 2020]

(63/20)