Payment Times Reporting Act 2020 (Cth)

Payment Times Reporting Act 2020

No. 91, 2020

Compilation No. 5

Compilation date: 21 February 2025

Includes amendments: Act No. 14, 2025

About this compilation

This compilation

This is a compilation of the Payment Times Reporting Act 2020 that shows the text of the law as amended and in force on 21 February 2025 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents 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 Part 1A—Provisions about reporting entities and reporting nominees 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 Part 2—Reporting payment times Division 1—Introduction 11 Simplified outline of this Part 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 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 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 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 Part 3—Payment Times Reporting Regulator Division 1—Introduction 23 Simplified outline of this Part 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 Division 3—Applications made to the Regulator 27A Requirements for applications made to the Regulator 27B Fees for applications made to the Regulator Part 4—Compliance and enforcement Division 1—Introduction 28 Simplified outline of this Part Division 2—Obligations of reporting entities and reporting nominees 29 Record‑keeping requirements—reporting entities 29A Record‑keeping requirements—reporting nominees 30 Compliance audits Division 2A—Information‑gathering powers 30A Regulator may obtain information 30B Civil penalty provision for failure to comply with notice 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 Part 5—Protected information Division 1—Introduction 38 Simplified outline of this Part 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 Division 3—Unauthorised use or disclosure 46 Unauthorised use or disclosure Part 6—Miscellaneous Division 1—Introduction 47 Simplified outline of this Part 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 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 Review Tribunal—decisions made by the Minister 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 Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history