to promote timely payment practices by large businesses, certain government entities and volunteering entities; and

to foster a culture of prompt payment practices by those entities to:

support economic growth; and

improve outcomes for small business suppliers; and

to encourage those entities to improve their payment terms, times and practices in relation to their small business suppliers; and

to provide for those entities to report on payment terms, times and practices in relation to their small business suppliers; and

to improve the transparency of the payment terms, times and practices of large businesses.

(a) in the case of a body corporate—carries on business in Australia, a State or a Territory within the meaning of the Corporations Act 2001 (see section 21 of that Act); or

in any other case—would be taken to do so within the meaning of that Act if the entity were a body corporate.

the total revenue of the entity, for a financial year; or

if the entity controls another entity or entities—the total revenue of the entity and all of the controlled entities, considered as a group, for a financial year of the controlling entity;

(a) if a paragraph of the definition of financial year in section 9 of the Corporations Act 2001 applies to the entity—has the meaning given by that definition; or

otherwise—means an income year for the entity.

if the entity is a reporting entity or a reporting nominee for the whole of the financial year—that is a reporting period of the entity in the financial year; or

otherwise—that would be a reporting period for the entity if the entity were a reporting entity or a reporting nominee for the whole of the financial year.

a period of 6 months starting on 1 January;

a period of 6 months starting on 1 July.

an individual member of the entity’s principal governing body who is authorised to approve the report, application or other matter; or

if the entity is a trust administered by a sole trustee—that trustee; or

if the entity is a corporation sole—the individual constituting the corporation; or

(d) if the entity is under administration within the meaning of the Corporations Act 2001—the administrator; or

if the entity is of a kind prescribed by the rules—a prescribed member of the entity.

the entity:

carries on business in Australia; or

is a company that is incorporated in Australia; or

is a company that is not incorporated in Australia, but has either its central management and control in Australia, or its voting power controlled by shareholders who are residents of Australia; or

(iv) is a corporate Commonwealth entity, or a Commonwealth company, within the meaning of the Public Governance, Performance and Accountability Act 2013; and

the entity’s consolidated revenue for the previous financial year is more than $100 million; and

the entity is not controlled by another entity that is a reporting entity; and

(d) the entity is not registered under the Australian Charities and Not-for-profits Commission Act 2012.

if the entity is a volunteering entity—the determination under subsection 10B(1) that relates to the entity is revoked, or taken to be revoked, under subsection 10D(2), (3) or (7); or

if the entity is a subsidiary reporting entity—the determination under subsection 10E(1) that relates to the entity is revoked under section 10G; or

a notice under subsection 10H(2) (notice that entity has ceased to be a reporting entity) takes effect; or

the entity ceases to be a reporting entity under subsection 10K(2) (Regulator may determine that entity is to cease to be a reporting entity).

a determination under subsection 10L(1) is in effect for the entity for the whole of the period;

the period would be a reporting period for the reporting nominee if the reporting nominee were a reporting entity for the whole of the financial year (subject to subsection (4)).

a reporting entity’s financial year changes; and

as a result of the change, the entity has a financial year that is longer or shorter than 12 months;

if there is a period of 6 months that begins at the start of the financial year and falls entirely within the financial year—that period;

subject to subsection (5)—each subsequent period (if any) of 6 months that falls entirely within the financial year;

any period of less than 6 months that remains in the financial year after applying paragraphs (c) and (d).

(a) Corporations Act 2001 applies to a reporting entity; andsection 323D of the

a financial year of the entity is made longer under subsection (2) of that section;

the entity applies to the Regulator under subsection 10C(1); and

the Regulator is satisfied that:

the entity is not a reporting entity as a result of becoming a reporting entity under subsection 7(1); and

the entity is not controlled by another entity that is a reporting entity.

the time specified in the application for the purposes of subsection 10C(2); or

if the application does not specify a time for the purposes of subsection 10C(2)—at the start of the first provisional reporting period of the entity that begins after the Regulator makes the determination.

the start of the provisional reporting period of the applicant in which the application is made; or

the start of the provisional reporting period of the applicant that follows the provisional reporting period mentioned in paragraph (a).

the Regulator has made a determination under subsection 10B(1) in respect of a reporting entity; and

the determination has not been revoked;

the start of the reporting period of the entity in which the entity gives the notice to the Regulator; or

the start of the reporting period of the entity that follows the reporting period mentioned in paragraph (a) of this subsection.

the entity applies to the Regulator under subsection 10F(1); and

the entity is controlled by another entity that is a reporting entity; and

the Regulator is satisfied that granting the application:

would not be contrary to the public interest; and

would be consistent with the objects of this Act; and

the Regulator is satisfied of any other matters prescribed by the rules.

a payment times report given by a subsidiary reporting entity must include information about the payment terms, times and practices of the entity and other entities that the entity controls; and

that information is not required to be included in a payment times report given by the reporting entity that controls the subsidiary reporting entity.

the time specified in the application for the purposes of subsection 10F(2); or

if the application does not specify a time for the purposes of subsection 10F(2)—at the start of the first provisional reporting period of the entity that begins after the Regulator makes the determination.

the start of the provisional reporting period of the applicant in which the applicant gives the application to the Regulator; or

the start of the provisional reporting period of the applicant that follows the reporting period mentioned in paragraph (a).

the start of the reporting period of the entity in which the Regulator gives the notice; or

the start of the reporting period of the entity that follows the reporting period mentioned in paragraph (a) of this subsection.

the Regulator has made a determination under subsection 10E(1) in respect of an entity; and

the determination has not been revoked;

the start of the reporting period of the entity in which the entity gives the notice to the Regulator; or

the start of the reporting period of the entity that follows the reporting period mentioned in paragraph (a) of this subsection.

the entity is not:

a volunteering entity; or

a subsidiary reporting entity; and

any of the following circumstances exist:

paragraph 7(2)(a) does not apply to the entity;

the entity’s consolidated revenue for each of the 2 previous financial years was not more than $100 million;

the entity is controlled by another entity that is a reporting entity;

(iv) the entity is registered under the Australian Charities and Not-for-profits Commission Act 2012; and

the reporting entity gives the Regulator a notice under subsection (2); and

the notice takes effect under subsection (5).

must be given in the form and manner (if any) approved in an instrument under subsection (4); and

must state the name of the reporting entity; and

must state which circumstance or circumstances mentioned in paragraph (1)(b) exist; and

must be approved in writing by a responsible member of the entity; and

must state the name of the responsible member of the entity who approved the notice.

the notice under subsection (2) is taken never to have had effect; and

the entity is taken not to have ceased to be a reporting entity because of the notice.

the entity gives the Regulator a notice under subsection 10H(2); and

the notice is false or misleading in a material particular.

the entity is not:

a volunteering entity; or

a subsidiary reporting entity; and

the Regulator is satisfied that:

the entity has ceased to exist; or

paragraph 7(2)(a) does not apply to the entity; or

the entity’s consolidated revenue for each of the 2 most recent financial years was not more than $100 million; or

the entity is controlled by another entity that is a reporting entity; or

(v) the entity is registered under the Australian Charities and Not-for-profits Commission Act 2012; or

a circumstance prescribed by the rules applies.

the start of the reporting period of the entity in which the determination is made; or

the start of the reporting period of the entity that follows the reporting period mentioned in paragraph (a).

the first entity applies to the Regulator under subsection 10M(1); and

the application specifies each of the other entities for the purposes of paragraph 10M(2)(a); and

the Regulator is satisfied that the first entity controls each of the other entities; and

the Regulator is satisfied that at least one of the other entities is a reporting entity; and

the Regulator is satisfied that each of the other entities that is a reporting entity has consented to the first entity being a reporting nominee for that other entity; and

the Regulator is satisfied that the first entity is not a reporting entity; and

the Regulator is satisfied that granting the application:

would not be contrary to the public interest; and

would be consistent with the objects of this Act; and

the Regulator is satisfied of any other matters prescribed by the rules.

the time specified in the application for the purposes of paragraph 10M(2)(b); or

if the application does not specify a time for the purposes of paragraph 10M(2)(b)—at the start of the first provisional reporting period of the first entity that begins after the Regulator makes the determination.

must identify the other entity or entities; and

may specify the time when the applicant proposes the determination to take effect, which must be either:

the start of the provisional reporting period of the applicant in which the applicant gives the application to the Regulator; or

the start of the provisional reporting period of the applicant that follows the provisional reporting period mentioned in subparagraph (i).

the reporting nominee; and

each reporting entity to which the determination relates.

the start of the reporting period of the reporting nominee in which the Regulator gives the notice; or

the start of the reporting period of the reporting nominee that follows the reporting period mentioned in paragraph (a) of this subsection.

the Regulator has made a determination under subsection 10L(1) that an entity is a reporting nominee for one or more other entities; and

the determination has not been revoked;

the start of the reporting period of the reporting nominee in which the notice is given to the Regulator; or

the start of the reporting period of the reporting nominee that follows the reporting period mentioned in paragraph (a) of this subsection.

the entity applies to the Regulator under subsection 10Q(1); and

the Regulator is satisfied that:

the entity is a reporting entity or a reporting nominee; and

it is appropriate in the circumstances to make the determination, having regard to the objects of this Act.

any conditions imposed under subsection (2); and

the time the determination takes effect, which:

may be, but need not be, the time (if any) specified in the application under subsection 10Q(2); and

may be before the day the determination is made; and

the time the determination ceases to have effect, which must be no more than 2 years after the determination takes effect.

the entity has failed to comply with a condition imposed on the determination under subsection 10P(2); or

it is no longer appropriate in the circumstances for the entity to be an exempt entity.

(a) a revocation under subsection (1) takes effect on a day that is before the day (the notice day) on which the notice is given; and

the revocation results in a reporting entity or reporting nominee being required to give a payment times report for a reporting period that ended before the notice day; and

section 13 would, but for this subsection, require that report to be given to the Regulator by a time before the end of 3 months after the notice day;

the first entity; and

any entities that the first entity controls.

require information relating to any of the following:

the identity of an entity;

an entity’s financial, accounting or governance arrangements;

a description or classification of an entity’s business activities;

an entity’s principal governing body and responsible members;

contact details;

an entity’s invoicing and procurement practices;

require information to be given at particular times;

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

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

fail to report; or

give the Regulator a false or misleading report.

the period in which the report is required to be given has not ended; and

the Regulator has not previously allowed the entity further time to give the report under this section or section 13B.

state the further period that the applicant is seeking to give the report, which must end 28 or fewer days after the day the applicant would otherwise be required to give the report; and

state the circumstances that have resulted in the need for further time.

the Regulator has considered the application and any matters prescribed by the rules; and

the Regulator is satisfied that the applicant requires additional time to give the report.

the period in which the report is required to be given (including that period as previously extended under this section) has not ended; and

the Regulator has not previously allowed the entity further time to give the report under section 13A.

state the further period that the applicant is seeking to give the report; and

state the circumstances that have resulted in the need for further time; and

include evidence of those circumstances.

the Regulator has considered the application and any matters prescribed by the rules; and

the Regulator is satisfied that the circumstances that have resulted in the need for further time are exceptional.

the severity of the circumstances that have resulted in the need for further time; and

the strength of the evidence of those circumstances included in the application.

the information and documents, relating to the first entity’s payment terms, times or practices in relation to small business suppliers, that are prescribed by the rules; and

the information and documents, relating to the timing of the first entity’s payments of small business invoices, that are prescribed by the rules; and

any other information and documents prescribed by the rules.

require the report to include information and documents of a kind referred to in subsection (1) in relation to an entity that the first entity controls;

require the report to consolidate information and documents relating to different entities;

prescribe a method for working out any of the matters that must be included in the report;

require the report to include a declaration that information provided by the first entity under rules made for the purposes of section 10S is correct, or was correct at a particular time.

require reports to include different information and documents in different circumstances; and

require a report to include a statement about whether a circumstance mentioned in paragraph (a) of this subsection applies.

be approved in writing by a responsible member of the first entity; and

include the name of the responsible member of the first entity who approved the report.

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

the reporting nominee fails to comply with the requirement.

the reporting nominee gives the Regulator a payment times report; and

the report is false or misleading in a material particular.

take reasonable steps to remove from the report before the report is published on the register; or

remove from a published report as soon as practicable after the Regulator becomes aware that the information is included in the report.

(a) whether the information is personal information (within the meaning of the Privacy Act 1988); and

whether the information is commercial-in-confidence; and

any other matters prescribed by the rules; and

any other matters the Regulator considers relevant.

further release of the information would cause competitive detriment to a constitutionally covered entity; and

removing the information from the register is likely to be effective in removing the information from the public domain; and

the information is not required to be disclosed under another Australian law; and

removing the information from the register is likely to be effective in preventing the information from being readily discoverable.

are not to be made available for public inspection on the register; or

are to be removed from the register;

the Regulator has published the identity of an entity and details of non-compliance in accordance with this section; and

the Regulator is considering whether to publish the identity of that entity and details of the non-compliance again (including by publishing that information in some other way);

information that the Regulator may publish on the register;

information that the Regulator must publish on the register;

procedures relating to the publication of information on the register in accordance with rules made for the purposes of paragraphs (a) and (b).

the Minister is satisfied that the entity was a slow small business payer in 2 consecutive reporting cycles; or

the Minister is satisfied that the entity was a slow small business payer in a reporting cycle, and the entity did not comply with a requirement to give a payment times report in the preceding reporting cycle; or

the Minister is satisfied that the entity was a slow small business payer in a reporting cycle, and the entity did not comply with a requirement to give a payment times report in the following reporting cycle.

give the entity notice in writing of the proposed decision and the reasons for the proposed decision; and

invite the entity to make written submissions to the Regulator about the proposed decision within the period of 28 days beginning on the day the notice is given.

the relevant entities’ history (if any) of compliance or non-compliance with this Act;

any of the following matters raised in a written submission made in accordance with the invitation mentioned in paragraph (2)(b):

the relevant entities’ practices in relation to paying small business invoices;

any improvements in those practices;

whether any slowness of the relevant entities’ payment of small business invoices has been because of circumstances beyond the relevant entities’ control;

the likely cost and burden of complying with the direction, and whether that cost and burden is reasonable in the circumstances.

the first entity; and

any other constitutionally covered entity that rules made for the purposes of section 14 require the first entity’s payment times reports to include information about.

must be in writing; and

may include one or more requirements under section 22E; and

may specify, for the purposes of paragraph 22F(1)(b), the day that the direction ceases to be in effect.

if paragraph 22B(1)(a) applies—the end of the later of the 2 consecutive reporting cycles mentioned in that paragraph; or

if paragraph 22B(1)(b) applies—the end of the reporting cycle in which the entity was a slow small business payer; or

if paragraph 22B(1)(c) applies—the end of the reporting cycle in which the entity failed to comply with a requirement to give a payment times report.

the slowest 20% of small business payers for that reporting cycle; or

the slowest 20% of small business payers in a Division of the Australian and New Zealand Standard Industrial Classification for that reporting cycle.

the entity; and

if the rules require the entity’s payment times reports to include information or documents about other entities that the entity controls—those other entities.

the entity has given the Regulator a payment times report for a reporting period that ended within that reporting cycle; and

the payment times report has a qualifying payment time of 30 days or less.

to publish specified statements or information in accordance with this section; or

(b) to take reasonable steps to cause a constitutionally covered entity that the recipient controls (a controlled entity) to publish specified statements or information in accordance with this section.

a statement that the recipient or the controlled entity is a slow small business payer;

information on how to access payment times reports that relate to the recipient or the controlled entity.

on the recipient’s website or the controlled entity’s website; or

in documents relating to procurement processes, including requests for quotes and tender documents; or

in documents relating to the environmental, social and governance policies or performance of the entity or the controlled entity; or

in invoices; or

in other kinds of commercial documents; or

in any other way that the Minister considers appropriate.

a requirement relating to the prominence of the statement or information;

a requirement relating to the location of the statement or information in relation to other material.

the day the entity gives the Regulator a payment times report with a qualifying payment time of 30 days or less;

if the direction specifies a day that it ceases to be in effect—that day;

the day 1 year after the day the direction is given;

if the Minister revokes the direction under subsection (2)—the time the Minister gives the entity the notice of revocation.

the Minister gives the entity a slow small business payer direction; and

the entity fails to comply with the direction.

a statement that the entity has been given a slow small business payer direction;

a description of the slow small business payer direction.

at that particular time, the entity is a reporting entity or reporting nominee; and

at that particular time, the entity has given the Regulator payment times reports for 2 consecutive reporting periods and both of the payment times reports for the 2 consecutive reporting periods have a qualifying payment time of 20 days or less; and

at that particular time, the period of 9 months, starting on the day after the end of the later of the 2 consecutive reporting periods, has not ended; and

in the case that, at that particular time, the entity has given the Regulator a payment times report for the next reporting period starting immediately after the end of the later of the 2 consecutive reporting periods—that payment times report also has a qualifying payment time of 20 days or less.

the entity has engaged in procurement practices that limit, reduce or restrict small business participation; or

the entity has engaged in payment practices that are contrary to the objects of this Act; or

the entity has given the Regulator a payment times report for a reporting period that has a misleading qualifying payment time of 20 days or less.

set out the reasons for the Regulator’s decision; and

specify the period in which the entity is excluded from the list.

the entity does an act or omits to do an act; and

the act or omission results in, or is reasonably capable of resulting in, a representation that the entity:

is a fast small business payer; or

has a qualifying payment time of 20 days or less; and

at the time the act or omission results in, or is reasonably capable of resulting in, the representation, the entity is not included in the list of fast small business payers.

to undertake research on the payment terms, times and practices of reporting entities and reporting nominees, for the purpose of informing the Commonwealth;

to publish reports on, or other results of, that research;

to publish analysis of the payment terms, times and practices of reporting entities and reporting nominees, for purposes incidental to the purpose of informing the Commonwealth;

to provide users of the register with data and tools to assist them to understand and use information made available on the register;

subsection 10C(1) (application for Regulator to make a volunteering entity determination);

subsection 10F(1) (application for Regulator to make a subsidiary reporting entity determination);

subsection 10M(1) (application for Regulator to make a reporting nominee determination);

subsection 10Q(1) (application for Regulator to make an exempt entity determination);

subsection 13A(1) (extensions of time of 28 days or less);

subsection 13B(1) (other extensions of time).

be given in the form and manner (if any) approved by the Regulator under subsection (3); and

include the information determined by the Regulator under subsection (4); and

state the name of the applicant; and

be approved in writing by a responsible member of the applicant; and

state the name of the responsible member of the applicant who approved the application.

refuse to consider the application; or

refuse to take any action, or any further action, in relation to the application.

an application under subsection 10F(1) for the Regulator to determine that an entity is a subsidiary reporting entity;

an application under subsection 10M(1) for the Regulator to determine that an entity is a reporting nominee;

an application under subsection 10Q(1) for the Regulator to determine that an entity is an exempt entity;

an application under subsection 13A(1) for further time to give a payment times report;

an application under subsection 13B(1) for further time to give a payment times report (except in a case where the applicant has already made an application under subsection 13B(1), and paid any fee for that application, in relation to the same report).

the reporting nominee is required to keep records under subsection (1); and

the reporting nominee fails to comply with the requirement.

to give to the Regulator any such information; or

to produce to the Regulator any such document or thing.

the name of the person; and

the form and manner in which the person is required to comply with the notice; and

the period (which must be at least 14 days after the notice is given to the person) within which the person is required to comply with the notice.

the person is given a notice under subsection 30A(2); and

the person fails to comply with the notice.

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

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

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

section 16 (false or misleading reports);

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

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

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

the Minister; and

is covered by subsection 7(2) of the new Act at the start of the first provisional reporting period of the entity that begins on or after the transition day; or

would be covered by that subsection if the new Act had commenced at or before the start of that provisional reporting period;

a payment times report for a reporting period that began before the transition day;

a requirement to give such a payment times report.

on or after the transition day; and

before the end of 3 months after the transition day.

create an offence or civil penalty;

provide powers of:

arrest or detention; or

entry, search or seizure;

impose a tax;

set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;

directly amend the text of this Act.