The Code is hosted and administered for the UK government by the Chartered Institute of Credit Management.
[2] Section 3 of the Small Business, Enterprise and Employment Act 2015[5] made further provision for companies to have a "duty to publish report on payment practices and performance" (subject to regulations which, as at August 2016, had not yet been brought forward).
The government also made provision in section 28 of the Enterprise Act 2016 to penalise delayed payment of insurance claims.
[8][9] In April 2019, Sisk Group was removed and six other major construction businesses were suspended from the UK Government’s Prompt Payment Code for failing to pay suppliers on time.
[11] Central government departments, their executive agencies and non-departmental public bodies in the UK are required to take suppliers' approaches to prompt payment into account when awarding "major contracts", i.e. contracts with an anticipated value over £5 million per year.