14Reporting requirements

14 Reporting requirements

Content requirements (1) A payment times report that is required to be given to the Regulator by an entity (the first entity) that is a reporting entity or a reporting nominee must include: (a) 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 (b) 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 (c) any other information and documents prescribed by the rules. (2) Without limiting subsection (1), the rules may do any of the following: (a) 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; (b) require the report to consolidate information and documents relating to different entities; (c) prescribe a method for working out any of the matters that must be included in the report; (d) 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.

Note: The rules may, in accordance with paragraph (a), require a report given by a reporting nominee to include information and documents relating to another entity specified in the determination under subsection 10L(1).

(3) Without limiting subsection (1), the rules may: (a) require reports to include different information and documents in different circumstances; and (b) require a report to include a statement about whether a circumstance mentioned in paragraph (a) of this subsection applies.

Note: See section 16 in relation to false or misleading reports.

(4) Subsection (3) does not limit subsection 33(3A) of the Acts Interpretation Act 1901. Approval requirement (5) The report must: (a) be approved in writing by a responsible member of the first entity; and (b) include the name of the responsible member of the first entity who approved the report. Form and manner for giving report (6) The report must be given in the form and manner (if any) approved in an instrument under subsection (7). (7) The Regulator may, by notifiable instrument, approve a form or manner for the purposes of subsection (6). Applying, adopting or incorporating other instruments etc. (8) Despite subsection 14(2) of the Legislation Act 2003, rules made for the purposes of this section may make provision in relation to a matter by applying, adopting or incorporating, with or without modification, any matter contained in an instrument or other writing as in force or existing from time to time.