Payment Times Reporting Act 2020

PART 6 - MISCELLANEOUS  

Division 4 - Other matters  

SECTION 55A   FORMER REPORTING NOMINEES  
Former reporting nominees

55A(1)    
The requirement for a reporting nominee to give the Regulator a payment times report under section 12 for a reporting period continues to apply to the reporting nominee if:

(a)    the reporting nominee has not given the Regulator a payment times report for the reporting period under that section; and

(b)    the reporting nominee ceases to be a reporting nominee at any time after the end of the reporting period.

Other rights and obligations

55A(2)    
The following provisions continue to apply to a reporting nominee that has ceased to be a reporting nominee as if it were still a reporting nominee:

(a)    section 15 (civil penalty provision for failure to report);

(b)    section 16 (false or misleading reports);

(c)    Division 3 of Part 2 (access to payment times reports);

(d)    Division 2 of Part 4 (obligations of reporting entities and reporting nominees);

(e)    Division 2 of this Part (treatment of certain kinds of entities).

 View history note

 Hide history note