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Payment Times Reporting Act 2020
15Civil penalty provision for failure to report
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15 Civil penalty provision for failure to report
(1) A reporting entity is liable to a civil penalty if: (a) the entity is required to give the Regulator a payment times report in accordance with this Division; and (b) the entity fails to comply with the requirement; and (c) the entity is a not a volunteering entity.
Civil penalty: 60 penalty units.
(2) A reporting nominee is liable to a civil penalty if: (a) the reporting nominee is required to give the Regulator a payment times report in accordance with this Division; and (b) the reporting nominee fails to comply with the requirement.
Civil penalty: 60 penalty units.