The ACCC has issued a final determination authorising AusPayNet and members of the Australian Paper Clearing System to coordinate efforts to phase out the cheques system in Australia.
The authorisation permits parties to enter agreements and hold discussions to support the transition with stakeholders – including the RBA, government bodies, and industry participants.
The move aligns with Treasury’s Cheques Transition Plan, which targets cessation of cheque issuance by 30 June 2028 and full system closure by 30 September 2029. Background.
If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.
Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
