The Payment Times Reporting Regulator administers the Payment Times Reporting Scheme. This includes monitoring and enforcing compliance with the scheme’s requirements.
Role of the Regulator
The Australian Government established the Payment Times Reporting Regulator on 1 January 2021. The role is currently based in the Treasury.
- administers the scheme
- raises awareness and promotes compliance by engaging and educating businesses
- uses compliance and enforcement powers where appropriate
- works with other government bodies to collaborate and share information
- reports on the scheme.
How the Regulator enforces compliance
The Regulator has powers to:
- monitor compliance with the scheme
- investigate suspected non-compliance
- require compliance audits of businesses
- issue infringement notices
- apply to a court for civil penalty orders.
Payment Times Reports Register
The Regulator maintains the Payment Times Reports Register. This public register shows how each reporting entity is paying their small business suppliers.