Government signals intention to repeal Business Payment Practices Act 2023
Published: 22 February 2024
The Government has today announced plans to repeal the Business Payment Practices Act 2023.
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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.
The Government will now begin the process to introduce the repeal into Parliament. Until its repeal by Parliament, however, the Act remains law.
Update to the Business Payment Practices Act 2023
The Government's announcement:
Government to address business payment practices(external link) — Beehive website
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https://www.mbie.govt.nz/about/news/government-signals-intention-to-repeal-business-payment-practices-act-2023/
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