Commonwealth Numbered Acts

PAYMENT TIMES REPORTING ACT 2020 (NO. 91, 2020) - SECT 3

                   The objects of this Act are:

                     (a)  to provide for large businesses, certain government entities and volunteering entities to report information on their payment terms and practices in relation to their small business suppliers; and

                     (b)  to make that information publicly available in order to:

                              (i)  enable small businesses to make more informed decisions about potential customers; and

                             (ii)  create incentives for reporting entities to improve their payment terms and practices.