Business Payment Practices regulations

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Submissions due: 26 February 2023, 5pm

The Ministry of Business, Innovation and Employment is asking for feedback on regulations to support the new Business Payment Practices disclosure regime.

The new Business Payment Practices disclosure regime requires large entities to publicly disclose information about their payment practices, including their payment times. A large entity is defined as an entity that has received $33 million or more in revenue over the two most recent accounting periods.

Regulations to support this regime will set out:

  • what business payment information large companies must provide
  • when they will need to provide it, and what periods it will cover, and
  • whether any classes of company should be exempted, and on what grounds.

MBIE is seeking feedback on what the regulations should prescribe. For more information on the proposed regulations, please refer to the discussion document published above.

Please note this is not consultation on whether or not to have a new Business Payment Practices regime. The Government has already made this decision and a Business Payment Practices Bill has been introduced to Parliament.

The Bill is available on the New Zealand Parliament website and will soon be open for submissions at Select Committee.

How to make a submission

Please use the submission template provided. This will help us to collate submissions and ensure that your views are fully considered. Please also include your name and (if applicable) the name of your organisation in your submission.

Business Payment Practices Regulations submission template

Please include your contact details in the cover letter or e-mail accompanying your submission.

You can make your submission by:

  • sending your submission as a Microsoft Word document to BPPregulations@mbie.govt.nz
  • or mailing your submission to:

    Small Business Policy
    Building, Resources and Markets
    Ministry of Business, Innovation & Employment
    PO Box 1473
    Wellington 6140
    New Zealand

Please direct any questions that you have in relation to the submissions process to BPPregulations@mbie.govt.nz.