Legal update from Practical Law Commercial: Payments System Review final report
On 30 August 2021, Treasury released the final report for the Review which makes 15 recommendations for the Australian payments system regulatory regime (see Legal update, Payments System Review final report released). The Australian payments system regulatory framework currently consists of a complex mix of legislation, regulatory instruments, industry codes and contractual arrangements administered by multiple regulators and industry bodies. For more information about the Australian payments system generally, see Practice note, Overview of the Australian payments system.
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