Payment Times Reporting (Treasury) Amendment Delegation 2022

Overview

The Payment Times Reporting (Treasury) Amendment Delegation 2022 (F2022N00178) amends the delegations made under the Payment Times Reporting Act 2020. Enacted on 4 August 2022 by Mary Jeffries, the Payment Times Reporting Regulator, this instrument aims to update the delegations to better align with the operational needs of the Payment Performance Branch within the Small and Family Business Division of the Department of the Treasury. The policy objective underpinning this amendment is to ensure efficient and effective administration of the reporting requirements under the Payment Times Reporting Act 2020. This notifiable instrument came into effect the day after its registration, with specific provisions commencing on the dates outlined in the instrument itself. The amendments are designed to streamline the delegation process, allowing specified Senior Executive Service (SES) and Executive Level 2 (EL2) employees to carry out the necessary functions more effectively.

Scope and Application

The Payment Times Reporting (Treasury) Amendment Delegation 2022 amends the Payment Times Reporting (Treasury) Delegation 2021. This instrument is made under the Payment Times Reporting Act 2020 and concerns delegations of authority for the implementation of the Payment Times Reporting Act 2020. The instrument applies to specified employees within the Department of the Treasury, specifically Senior Executive Service (SES) employees and Executive Level 2 (EL2) employees, who are granted certain delegations under the Act. These delegations pertain to the functions and responsibilities associated with the reporting of payment times by businesses, aiming to enhance transparency and accountability in business transactions. The instrument commenced the day after its registration, as specified in the table under the Commencement section. The amendment primarily alters the individuals within the Department of the Treasury who are authorised to exercise certain powers and perform specific functions under the Act.

Key Provisions

The Payment Times Reporting (Treasury) Amendment Delegation 2022 (the "Amendment Delegation") amends the Payment Times Reporting (Treasury) Delegation 2021 (the "Original Delegation") by specifying new delegates authorised to exercise certain powers and perform certain functions under the Payment Times Reporting Act 2020 (the "Act"). This Amendment Delegation is made by Mary Jeffries, the Payment Times Reporting Regulator, on behalf of the Assistant Secretary, Payment Performance Branch, Small and Family Business Division, Department of the Treasury. The entire instrument commences on the day after it is registered, as per section 2(1). Under section 4 of the Amendment Delegation, Schedule 1 details the specific amendments to the Original Delegation. The primary changes involve updating the list of authorised delegates who can exercise powers and perform functions under the Act. Specifically, the Amendment Delegation removes the previous list of delegates and substitutes it with two new categories: (a) SES employees and (b) EL2 employees. These changes reflect the updated authorisation framework for those responsible for enforcing and administering the Act's payment reporting requirements. The Amendment Delegation imposes several obligations on the newly designated delegates, particularly SES employees and EL2 employees. These individuals are now authorised to exercise specific powers and perform functions as outlined in the Original Delegation but amended by Schedule 1. Their responsibilities include ensuring compliance with the reporting requirements under the Act, monitoring and reviewing payment practices, and enforcing the Act's provisions as necessary. These obligations are designed to facilitate efficient administration and enforcement of the Act's payment reporting obligations. Breaching the obligations imposed by the Act can result in both civil and criminal consequences. Under the Act, non-compliance with reporting requirements or failure to exercise authorised powers and functions appropriately can lead to enforcement actions. The Act does not explicitly state the maximum penalties for breaches in the provided text. However, typically, such breaches could result in fines or other penalties as prescribed under the Act. In more severe cases, criminal charges could be pursued, leading to potential imprisonment, depending on the nature and severity of the breach. The precise penalties would be determined based on the specific provisions of the Act and the circumstances of the breach.