Business Payment Practices Act repealed

Published: 08 March 2024

The Government has repealed the Business Payment Practices Act 2023.

The Government intends to address business payment times through non-regulatory measures. In particular, ramping up the adoption of eInvoicing and ensuring government agencies prioritise eInvoices for faster payment. In the coming months Government agencies will also proactively publish their independently verified payments on MBIE’s website.

Businesses will no longer need to disclose their payment terms and practices on a public register.

Find out more here:

The Business Payment Practices Act 2023 has been repealed

You can read the Government’s announcement here:

Government to address business payment practices(external link) — Beehive website

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