The Regulator’s functions are to receive payment times reports from large businesses and make them publicly available.
Payment times reports contain information on payment practices to small businesses. The reports are published to promote and incentivise better payment times.
The Regulator has compliance powers to ensure large businesses meet their reporting obligations.
- Payment Times Reporting Act 2020
- Payment Times Reporting Rules 2020
- Large businesses and corporate groups with income greater than $100 million.
- Individual entities (subsidiaries) in a corporate group with income greater than $100 million are also required to report