Payment Times Reporting Act 2020

PART 2 - REPORTING PAYMENT TIMES  

Division 2 - Reporting payment times  

SECTION 15   CIVIL PENALTY PROVISION FOR FAILURE TO REPORT  

15(1)    
A reporting entity is liable to a civil penalty if:

(a)    the entity is required to give the Regulator a payment times report in accordance with this Division; and

(b)    the entity fails to comply with the requirement; and

(c)    the entity is a not a volunteering entity.

Civil penalty: 60 penalty units.

15(2)    
A reporting nominee is liable to a civil penalty if:

(a)    the reporting nominee is required to give the Regulator a payment times report in accordance with this Division; and

(b)    the reporting nominee fails to comply with the requirement.

Civil penalty: 60 penalty units.