The Payment Times Reporting Regulator administers the Payment Times Reporting Scheme, to ensure the Payment Times Reports Register is a reliable source of information about how large businesses are paying their small business suppliers.
Role of the regulator
The regulator's core functions are to receive payment times reports from large businesses every 6 months and publish those reports to the Payment Times Reports Register.
It is not the regulator’s role to mandate or enforce payment terms and times by large businesses.
Information and education
Information and education programs help reporting entities understand reporting requirements, submit payment times reports, and identify small business suppliers.
Every 6 months, the regulator issues a Regulator’s update with information about the scheme, current and planned activities and insights from payment times reports. A bi-annual liaison forum provides stakeholders an opportunity to provide feedback directly to the regulator.
Decision making
The regulator makes decisions about registration of payment times reports, including revised reports, redaction of reports, applications for extensions of time to give a report, applications for a determination to cease to be a reporting entity.
Compliance monitoring and enforcement
The regulator has a range of powers to ensure compliance by reporting entities, including powers to:
- publish details of non-compliance
- undertake an investigation or compliance audit
- issue an infringement notice
- pursue civil penalties.
Regulator performance
In accordance with the Regulator Performance (Resource Management Guide 128), the regulator is committed to:
- continuous improvement and building trust
- being risk-based and data driven
- collaboration and engagement.
An annual report on the operation of the Payment Times Reporting Act 2020 is published as part of the Treasury's annual report.
Ministerial Statement of Expectations
The Minister for Small Business issued the Statement of Expectations for the Payment Times Reporting Regulator in July 2023. This outlines expectations for how the regulator will achieve objectives, carry out its functions and exercise its powers.
Regulator Statement of Intent
In July 2023, the Payment Times Reporting Regulator responded to the Ministerial Statement of Expectations with the Regulator Statement of Intent. This outlines how the regulator will deliver on the Minister’s expectations and demonstrate progress.
Contact the regulator
If you’d like to provide feedback, or have queries regarding a decision or a complaint about the handling of a matter, contact the regulator.
Guidance for reporting entities
For more information about the regulator's role and approach to regulation read:
For more information on decision making and administering the Act read:
For information about the use of regulatory powers read: