The Australian Competition and Consumer Commission (ACCC) revoked authorisations A91473 and A91474 and substituted authorisation AA1000678, enabling Australian Payments Network Limited (AusPayNet) to give effect to the suspension and termination provisions in the Bulk Electronic Clearing System (BECS) Regulations. The authorisation has been granted for 10 years, until 29 August 2034. BECS is the system for managing the exchange and settlement of bulk electronic low value transactions, and its regulations include corporate governance settings such as membership criteria, settlement and dispute resolution. The ACCC’s authorisation decision relates only to the BECS suspension and termination provisions, with further material published on the ACCC public register.
Australian Competition and Consumer Commission 2025-02-12
Australian Competition and Consumer Commission substitutes a 10-year authorisation for AusPayNet to apply BECS suspension and termination provisions
The Australian Competition and Consumer Commission (ACCC) revoked authorisations A91473 and A91474, substituting them with authorisation AA1000678, allowing Australian Payments Network Limited to implement suspension and termination provisions in the Bulk Electronic Clearing System (BECS) Regulations for 10 years until 29 August 2034. This decision pertains solely to BECS's suspension and termination provisions.