Prompt Payment of Accounts Bill 1997

Public bill · Government · Presented

Requires listed public-sector bodies and their subsidiaries to pay suppliers within the agreed period or, where none is set, generally within 45 days. Late payments attract mandatory interest, while suppliers gain protections over disputed invoices and subcontractor payments; purchasing practices must be reported and audited.

Formal long title

Bill entitled an Act to provide for the prompt payment of business accounts by certain public sector and other purchasers of goods and services, and for related purposes

Last updated 4 August 2023