Introduced on Oct 26. The bill introduces a regime intended to bring transparency to business-to-business payment terms and practices. Entities with more than $33m in revenue will be required to disclose their payment practices twice a year including information about late payments and payment terms. First reading on Nov 8, opposed by Act and sent to the Economic Development, Science and Innovation Committee. Reported back on April 26 with a number of changes including a staggered transition period with entities with more than $100m in revenue reporting at first. Second reading on June 1 with National and Act opposed. Remaining stages completed on July 18 with National and Act opposed.
Business Payment Practices Bill