Commonwealth Numbered Acts

PAYMENT TIMES REPORTING ACT 2020 (NO. 91, 2020) - SECT 55

Obligation to report

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

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

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

Other rights and obligations

             (2)  The following provisions continue to apply to an entity that has ceased to be a reporting entity, as if it were still a reporting entity:

                     (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);

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