On May 7, 2025, the Australian Competition and Consumer and Consumer Committee (ACCC) issued a designation plan proposed to grant AA1000689 authorization with the condition for the extension of Australian Payment Network Limited (Ausspaynet) and the members of the Australia Clearing Paper System for Australia’s Clearing Paper Australia’s government control system.
The proposed behavior involves the receipt and implementation of agreements between them and third parties, such as the Bank of Australia, the Government and the Industry, and the participation in discussions on monitoring progress, issues reporting and developing solutions to facilitate control of controls.
The behavior reflects the proposed cooperation between the financial services sector and the government in the plan to transition the checks of the Treasury, which aims to stop the issuance of audits by June 30, 2028 and to stop accepting the audits and close the control system by September 30.
The ACCC granted an intermediate authorization on December 18, 2024 for Auspaynet to participate in preparatory behavior to begin the work needed to cover the Treasury’s timetable for the transition from controls.
ACCC proposes the authorization by December 31 2030.
The ACCC is now looking for submissions in response to the designation plan until Friday, May 23, 2025 before making its final decision.