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The draft measures followed a government consultation into business payment practices and policies.
Large businesses will also be legally obliged to report on payment practices from 6 April 2017.
And under our current perverse payment practices, when providers improve quality and efficiency, it frequently hurts their bottom lines.
Tyco executives have denied that Tyco changes the payment practices of companies it buys before the takeovers are final.
Last year Holland & Barrett was criticised by the parliamentary business, energy and industrial strategy select committee over payment practices.
Some health policy experts argue that changes in payment practices will not be enough to slow the growth in spending, even when combined with other cost-cutting strategies.
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Meyer S. Frucher, chairman of the Philadelphia Stock Exchange, deplores the payment practice among exchanges.
Finally, payer-centric payment architecture is advocated to facilitate the adoption of smart phones for mobile commerce applications, in contrast to the current prevalent mode of payee-centric payment practice.
In any case, such informal payment practice reflects in general the issue of an under-funded health system where health providers at the PHC level continue to have insufficient salaries and other inputs, and the gap is being filled through direct payments from patients.
The punishment of HSBC comes just a day after another UK based international bank, Standard Chartered, agreed to pay $327m £203mm) for past violations of US sanctions laws and "lack of transparency in connection with certain former payments practices which were terminated in 2007".
"Digital currencies are not going away," said Carol Van Cleef, the head of law firm Patton Boggs's emerging-payments practice.
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