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Regulator's update – July 2024 [DOCX 1.66 MB] Regulator's update – July 2024 [PDF 741 kB]
The Payment Times Reporting Act 2020 (Act) has been in operation for over 3 years, with more than 11,000 reporting entities registered under the scheme and over 61,000 payment times reports as at 31 July 2024.
The Australian Parliament passed the Payment Times Reporting Amendment Act 2024 (Amendment Act) on 3 July 2024. It received Royal Assent on 9 July 2024.
The Amendment Act makes major changes to the Act to implement the Government’s response to the statutory review of the Payment Times Reporting Scheme conducted by Dr Craig Emerson in 2023.
The reforms in the Amendment Act commence on 7 September 2024. The reforms are significant and will impact all reporting entities.
About the Regulator’s update
The Payment Times Reporting Regulator releases a Regulator’s update every 6 months, with information about the Payment Times Reporting Scheme and the Regulator’s current and planned activities.