The following Corporate Crime guidance note Produced in partnership with Jenny Barker of Peters & Peters provides comprehensive and up to date legal information covering:
This Practice Note sets out and examines the criminal offences created by the Reporting on Payment Practices and Performance Regulations 2017 (RPPPR 2017), SI 2017/395 and the Limited Liability Partnerships (Reporting on Payment Practices and Performance) Regulations 2017 (LLP(RPPP)R 2017), SI 2017/425, together, 'the Regulations'.
For an explanation of the requirements of the RPPPR 2017, SI 2017/395 and the LLP(RPPP)R 2017, SI 2017/425 as well as information on how to comply with the requirements, see Practice Notes: Reporting on payment practices and performance and Payment practices and performance reporting—flowchart.
Please note that these Practice Notes explain the position in England and Wales only. Please be aware that the Regulations do also create offences in Scotland and Northern Ireland and reference should be to the Regulations themselves for information on offences in these two jurisdictions.
The Regulations require certain large UK companies and Limited Liability Partnerships (LLP) (referred to together for ease as 'businesses') to prepare and publish information about their payment practices and performance in relation to 'qualifying contracts' twice per financial year, within 30 days of the end of each reporting period. The aim is to support small and medium sized businesses, and improve their cash flow by tackling the issue of late payment by larger businesses.
Note that LLP(RPPP)R 2017, SI 2017/425 applies the provisions of the RPPPR 2017,
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