22FDuration of slow small business payer direction

22F Duration of slow small business payer direction

(1) A slow small business payer direction given to an entity continues in effect until the earliest of the following: (a) the day the entity gives the Regulator a payment times report with a qualifying payment time of 30 days or less; (b) if the direction specifies a day that it ceases to be in effect—that day; (c) the day 1 year after the day the direction is given; (d) if the Minister revokes the direction under subsection (2)—the time the Minister gives the entity the notice of revocation. (2) The Minister may, by written notice given to the entity to which a slow small business payer direction was given, revoke the direction. (3) For the purposes of paragraph (1)(a), qualifying payment time of 30 days or less has the meaning given by the rules.