Payment Times Reporting Act 2020

PART 1A - PROVISIONS ABOUT REPORTING ENTITIES AND REPORTING NOMINEES  

Division 7 - Entity information  

SECTION 10S   REQUIREMENT TO PROVIDE ENTITY INFORMATION  

10S(1)    
The rules may require an entity (the first entity ) that is a reporting entity or a reporting nominee to give the Regulator information about:

(a)    the first entity; and

(b)    any entities that the first entity controls.

Note:

The rules may require a payment times report given by the entity to include a declaration that information given to the Regulator under rules made for the purposes of this section is correct (see paragraph 14(2)(d) ).

10S(2)    
Without limiting subsection (1) , the rules may do any of the following:

(a)    require information relating to any of the following:

(i) the identity of an entity;

(ii) an entity ' s financial, accounting or governance arrangements;

(iii) a description or classification of an entity ' s business activities;

(iv) an entity ' s principal governing body and responsible members;

(v) contact details;

(vi) an entity ' s invoicing and procurement practices;

(b)    require information to be given at particular times;

(c)    require the first entity to update or correct information that has previously been provided;

(d)    require information to be given in the form and manner (if any) approved in an instrument under subsection (3) .

10S(3)    
The Regulator may, by notifiable instrument, approve a form or manner for the purposes of paragraph (2)(d) .