Commonwealth Consolidated Acts Commonwealth Consolidated ActsNo. 91, 2020
Compilation No. 4
Compilation date: 14 October 2024
Includes amendments: Act No. 38, 2024
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 14 October 2024 (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If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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 Appeals 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
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Abbreviation key--Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history--Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history.
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub-subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev ... ) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA = Legislation Act 2003 | Sch = Schedule(s) |
Sdiv = Subdivision(s) | |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub-Ch = Sub-Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | underlining = whole or part not |
No. = Number(s) | commenced or to be commenced |
Endnote 3--Legislation history
Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |
91, 2020 | 14 Oct 2020 | 1 Jan 2021 (s 2(1) item 1) |
| |
89, 2020 | 17 Sept 2020 | Sch 1 (items 3-5): 1 Sept 2021 (s 2(1) item 3) | -- | |
Corporate Collective Investment Vehicle Framework and Other Measures Act 2022 | 8, 2022 | 22 Feb 2022 | Sch 8 (items 23-31): 23 Feb 2022 (s 2(1) item 9) | Sch 8 (items 27, 30) |
Administrative Review Tribunal (Consequential and Transitional Provisions No. 1) Act 2024 | 38, 2024 | 31 May 2024 | Sch 1 (items 41, 66): 14 Oct 2024 (s 2(1) item 2) | -- |
65, 2024 | 9 July 2024 | Sch 1 (items 1-89): 7 Sept 2024 (s 2(1) item 1) | Sch 1 (items 85-89) |
Provision affected | How affected |
Title.................... | am No 65, 2024 |
Part 1 |
|
s 3..................... | rs No 65, 2024 |
s 4..................... | rs No 65, 2024 |
s 5..................... | am No 89, 2020; No 8, 2022; No 65, 2024 |
s 7..................... | am No 8, 2022 |
| rs No 65, 2024 |
s 8..................... | am No 8, 2022; No 65, 2024 |
Part 1A |
|
Part 1A.................. | ad No 65, 2024 |
Division 1 |
|
s 10A................... | ad No 65, 2024 |
Division 2 |
|
s 10B................... | ad No 65, 2024 |
s 10C................... | ad No 65, 2024 |
s 10D................... | ad No 65, 2024 |
Division 3 |
|
s 10E................... | ad No 65, 2024 |
s 10F................... | ad No 65, 2024 |
s 10G................... | ad No 65, 2024 |
Division 4 |
|
s 10H................... | ad No 65, 2024 |
s 10J.................... | ad No 65, 2024 |
s 10K................... | ad No 65, 2024 |
Division 5 |
|
s 10L................... | ad No 65, 2024 |
s 10M................... | ad No 65, 2024 |
s 10N................... | ad No 65, 2024 |
Division 6 |
|
s 10P................... | ad No 65, 2024 |
s 10Q................... | ad No 65, 2024 |
s 10R................... | ad No 65, 2024 |
Division 7 |
|
s 10S................... | ad No 65, 2024 |
Part 2 |
|
Division 1 |
|
s 11.................... | rs No 65, 2024 |
Division 2 |
|
s 12.................... | rs No 65, 2024 |
s 13.................... | rs No 65, 2024 |
s 13A................... | ad No 65, 2024 |
s 13B................... | ad No 65, 2024 |
s 14.................... | am No 8, 2022 |
| rs No 65, 2024 |
s 15.................... | am No 65, 2024 |
s 16.................... | am No 65, 2024 |
Division 3 |
|
s 18.................... | rs No 65, 2024 |
s 19.................... | rs No 65, 2024 |
s 20.................... | rs No 65, 2024 |
s 21.................... | rs No 65, 2024 |
s 22.................... | am No 65, 2024 |
s 22A................... | ad No 65, 2024 |
Division 4 |
|
Division 4................ | ad No 65, 2024 |
s 22B................... | ad No 65, 2024 |
s 22C................... | ad No 65, 2024 |
s 22D................... | ad No 65, 2024 |
s 22E................... | ad No 65, 2024 |
s 22F................... | ad No 65, 2024 |
s 22G................... | ad No 65, 2024 |
s 22H................... | ad No 65, 2024 |
Division 5 |
|
Division 5................ | ad No 65, 2024 |
s 22J.................... | ad No 65, 2024 |
s 22K................... | ad No 65, 2024 |
s 22L................... | ad No 65, 2024 |
Part 3 |
|
Division 1 |
|
s 23.................... | am No 65, 2024 |
Division 2 |
|
s 25.................... | am No 65, 2024 |
s 27.................... | am No 8, 2022; No 65, 2024 |
Division 3 |
|
Division 3................ | ad No 65, 2024 |
s 27A................... | ad No 65, 2024 |
s 27B................... | ad No 65, 2024 |
Part 4 |
|
Division 1 |
|
s 28.................... | rs No 65, 2024 |
Division 2 |
|
Division 2 heading.......... | am No 65, 2024 |
s 29.................... | am No 65, 2024 |
s 29A................... | ad No 65, 2024 |
s 30.................... | am No 65, 2024 |
Division 2A |
|
Division 2A............... | ad No 65, 2024 |
s 30A................... | ad No 65, 2024 |
s 30B................... | ad No 65, 2024 |
Division 3 |
|
s 31.................... | am No 65, 2024 |
s 32.................... | am No 65, 2024 |
s 33.................... | am No 65, 2024 |
s 34.................... | am No 65, 2024 |
s 34A................... | ad No 65, 2024 |
Division 4................ | rep No 65, 2024 |
s 37.................... | rep No 65, 2024 |
Part 5 |
|
Division 2 |
|
s 40A................... | ad No 65, 2024 |
Part 6 |
|
Division 1 |
|
s 47.................... | am No 65, 2024 |
Division 2 |
|
s 48.................... | am No 65, 2024 |
s 49.................... | am No 65, 2024 |
s 50.................... | am No 65, 2024 |
Division 3 |
|
s 51.................... | am No 65, 2024 |
s 53.................... | am No 38, 2024 |
s 54.................... | am No 38, 2024; No 65, 2024 |
s 54AA.................. | ad No 65, 2024 |
Division 4 |
|
s 54A................... | rep No 65, 2024 |
s 54B................... | rep No 65, 2024 |
s 55.................... | am No 65, 2024 |
s 55A................... | ad No 65, 2024 |
s 55B................... | ad No 65, 2024 |
s 57.................... | am No 65, 2024 |
s 57A................... | rs No 65, 2024 |
s 57B................... | am No 65, 2024 |