Strategic Plan for the Payments System-Consultation Paper
The Financial Services Committee of the Business Law Section of the Law Council of Australia (the Committee) has prepared this submission in response to the Consultation Paper dated December 2022 issued by Treasury and titled “A Strategic Plan for the Payments System” (the Consultation Paper). The Committee thanks Treasury for this opportunity to respond to the Consultation Paper and for agreeing to a short extension of time in which to provide this submission.
The Committee is supportive of a review of the regulatory framework for the payments system, and considers that there are a number of important opportunities to increase efficiency and boost competitiveness while facilitating the development of new technologies.
Last Updated on 27/02/2023