55Former reporting entities

55 Former reporting entities

Obligation to report (1) The requirement for a reporting entity to give the Regulator a payment times report for a reporting period for the entity under section 12 continues to apply to the entity if: (a) the entity has not given the Regulator a payment times report for the reporting period under that section; and (b) the entity ceases to be a reporting entity at any time after the end of the reporting period. (1A) Subsection (1) does not apply if the entity was a volunteering entity during the reporting period. Other rights and obligations (2) The following provisions continue to apply to an entity that has ceased to be a reporting entity, as if it were still a reporting entity: (a) section 15 (civil penalty provision for failure to report); (b) section 16 (false or misleading reports); (c) Division 3 of Part 2 (access to payment times reports); (d) Division 2 of Part 4 (obligations of reporting entities and reporting nominees); (e) Division 2 of this Part (treatment of certain kinds of entities).