3Objects of this Act

3 Objects of this Act

The objects of this Act are: (a) to promote timely payment practices by large businesses, certain government entities and volunteering entities; and (b) to foster a culture of prompt payment practices by those entities to: (i) support economic growth; and (ii) improve outcomes for small business suppliers; and (c) to encourage those entities to improve their payment terms, times and practices in relation to their small business suppliers; and (d) to provide for those entities to report on payment terms, times and practices in relation to their small business suppliers; and (e) to improve the transparency of the payment terms, times and practices of large businesses.