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Law Council of Australia

Business Law Section

Payments System Modernisation (Licensing: Defining Payment Functions)

The Financial Services Committee of the Business Law Section of the Law Council of Australia (the Committee) provided a submission to Treasury in response to the consultation paper titled “Payments System Modernisation (Licensing: Defining Payment Functions)” (the Consultation Paper), which was released on 7 June 2023.

Set out below are the questions posed in the Consultation Paper, and the Committee’s responses to them.


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