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Law Council of Australia

Business Law Section

The Australian Debit Card Market: Default Settings and Tokenisation—Issues Paper

The Financial Services Committee of the Business Law Section of the Law Council of Australia (the Committee) provided feedback to the Reserve Bank of Australia (the RBA) on the Issues Paper titled “The Australian Debit Card Market: Default Settings and Tokenisation”, which was released for consultation on 16 June 2023 (the Issues Paper).

The Committee monitors developments in the laws and regulations governing financial services, actively contributing to public consultation on changes to these laws. These include, for example, the licensing regimes governing the provision of financial services and credit services, the National Credit Code, the Banking Code of Practice, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and the Personal Property Securities Act 2009 (Cth).

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