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Payment Times Reporting Act 2020
In force
Administered by
Department of the Treasury
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C2024C00621 (C04)
14 October 2024
-
20 February 2025
Legislation text
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Table of contents
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Part 1—Preliminary
1 Short title
2 Commencement
3 Objects of this Act
4 Simplified outline of this Act
5 Definitions
6 Meaning of constitutionally covered entity
7 Meaning of reporting entity
8 Meaning of reporting period
9 Act binds the Crown
10 Extension to external Territories
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Part 1A—Provisions about reporting entities and reporting nominees
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Division 1—Introduction
10A Simplified outline of this Part
Division 2—Volunteering entities
10B Volunteering entity determination
10C Application for Regulator to make a volunteering entity determination
10D Revocation of volunteering entity determination
Division 3—Subsidiary reporting entities
10E Subsidiary reporting entity determination
10F Application for Regulator to make a subsidiary reporting entity determination
10G Revocation of subsidiary reporting entity determination
Division 4—Ceasing to be a reporting entity
10H Notice that entity has ceased to be a reporting entity
10J Reporting entities must not give false or misleading notices
10K Regulator may determine that entity is to cease to be a reporting entity
Division 5—Reporting nominees
10L Reporting nominee determination
10M Application for Regulator to make a reporting nominee determination
10N Revocation of reporting nominee determination
Division 6—Exempt entities
10P Exempt entity determination
10Q Application for Regulator to make an exempt entity determination
10R Revocation of exempt entity determination
Division 7—Entity information
10S Requirement to provide entity information
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Part 2—Reporting payment times
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Division 1—Introduction
11 Simplified outline of this Part
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Division 2—Reporting payment times
12 Reporting entities and reporting nominees must report payment times
13 When report must be given
13A Extension of time to give report—single extension of 28 days or less
13B Extension of time to give report—other extensions
14 Reporting requirements
15 Civil penalty provision for failure to report
16 Reporting entities and reporting nominees must not give false or misleading reports
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Division 3—Access to payment times reports
17 Payment Times Reports Register
18 Contents of register
19 Revised payment times reports
20 Regulator may remove certain information
21 Removal or non publication of payment times reports for volunteering entities that fail to comply with Act
22 Publication of information about failure to comply with Act
22A Publication of other information
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Division 4—Slow small business payers
22B Minister may give slow small business payer direction
22C Other provisions about giving slow small business payer directions
22D Slow small business payers
22E Requirements that may be included in slow small business payer direction
22F Duration of slow small business payer direction
22G Civil penalty provision for failure to comply with slow small business payer direction
22H Publication on Register
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Division 5—Fast small business payers
22J Fast small business payers
22K List of fast small business payers
22L False representations in relation to fast small business payers
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Part 3—Payment Times Reporting Regulator
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Division 1—Introduction
23 Simplified outline of this Part
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Division 2—Payment Times Reporting Regulator
24 Payment Times Reporting Regulator
25 Functions of the Regulator
26 Powers of the Regulator
27 Delegation by the Regulator
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Division 3—Applications made to the Regulator
27A Requirements for applications made to the Regulator
27B Fees for applications made to the Regulator
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Part 4—Compliance and enforcement
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Division 1—Introduction
28 Simplified outline of this Part
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Division 2—Obligations of reporting entities and reporting nominees
29 Record keeping requirements—reporting entities
29A Record keeping requirements—reporting nominees
30 Compliance audits
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Division 2A—Information gathering powers
30A Regulator may obtain information
30B Civil penalty provision for failure to comply with notice
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Division 3—Regulatory powers
31 Monitoring powers
32 Investigation powers
33 Civil penalty provisions
34 Infringement notices
34A Enforceable undertakings
35 Appointment of authorised officers
36 Appointment of infringement officers
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Part 5—Protected information
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Division 1—Introduction
38 Simplified outline of this Part
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Division 2—Authorised use or disclosure
39 Performing functions or exercising powers under this Act
40 Policy development
40A Compliance auditors
41 Proceedings etc.
42 Enforcement related activity
43 Information required by another Australian law
44 Person to whom information relates—disclosure and consent
45 Person who provided information
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Division 3—Unauthorised use or disclosure
46 Unauthorised use or disclosure
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Part 6—Miscellaneous
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Division 1—Introduction
47 Simplified outline of this Part
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Division 2—Treatment of certain kinds of entities
48 Treatment of partnerships
49 Treatment of unincorporated associations or bodies of persons
50 Treatment of trusts and superannuation funds and approved deposit funds that are trusts
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Division 3—Reviewable decisions
51 Reconsideration and review of decisions
52 Application for reconsideration of reviewable decision
53 Reconsideration of reviewable decision
54 Review by the Administrative Review Tribunal—reconsideration decisions
54AA Review by the Administrative Appeals Tribunal—decisions made by the Minister
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Division 4—Other matters
55 Former reporting entities
55A Former reporting nominees
55B Delegation by the Minister
56 Annual report
57 Protection against civil liability
57A Review of operation of this Act
57B Requirements for review
58 Rules
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
