Section 17 (2) of the Act states that the liablity for payment of a resale royalty arises on completion of the qualifying resale, and Section 17 (3) of the Act states that liability is discharged when the total amount of the resale royalty is paid to the Collection Agency. This means that there is no time limit for retrospectively reporting a resale, and so in the event you discover a liability you must report and make payment to RRA within the timeframe (Section 17 (4). Section 8 of the Regulations states the applicable time frame is as follows:
Payment of the resale royalty must be made to the collection agency within 60 working days after the later of the following:
(a) the date on which the qualifying resale is completed:
(b) the earliest date on which a person liable under section 17 of the Act to pay the resale royalty becomes aware that they are liable to pay the resale royalty.