The Australian Competition and Consumer Commission has issued a draft determination proposing to grant authorisation AA1000689, subject to a condition, to allow Australian Payments Network Limited and members of the Australian Paper Clearing System to collaborate on conduct supporting the government’s planned wind-down of the cheques system. The proposed authorisation would permit the parties to make and implement agreements with each other and third parties, including the Reserve Bank of Australia, government and other industry participants, and to hold discussions to monitor progress, report issues and develop solutions. The collaboration aligns with the Treasury’s Cheques Transition Plan, which targets cessation of cheque issuing by 30 June 2028 and cessation of cheque acceptance and closure of the cheques system by 30 September 2029; interim authorisation was granted on 18 December 2024 for preparatory transition work. The ACCC proposes to grant the authorisation until 31 December 2030. Submissions on the draft determination are due by Friday 23 May 2025, ahead of the ACCC’s final decision.
Australian Competition and Consumer Commission 2025-05-07
Australian Competition and Consumer Commission consults on authorising AusPayNet and paper clearing members to coordinate the wind-down of Australia’s cheques system
The Australian Competition and Consumer Commission has issued a draft determination proposing to grant authorisation AA1000689, allowing Australian Payments Network Limited and members of the Australian Paper Clearing System to collaborate on the government's planned wind-down of the cheques system, with cessation targeted by 2029. Submissions on the draft are due by 23 May 2025, with the authorisation proposed until 31 December 2030.