The ACCC proposes to revoke authorisations A91473 and A91474, and substitute authorisation AA1000678, to enable Australian Payments Network Limited (AusPayNet) to give effect to termination and suspension provisions in the Bulk Electronic Clearing System (BECS) Regulations.
BECS is a system for managing the conduct of the exchange and settlement of bulk electronic low value transactions. The BECS Regulations contain provisions concerning the corporate governance of the system, including membership criteria, suspension and termination provisions, settlement and dispute resolution, amongst other matters. Only the suspension and termination provisions are the subject of this application.
The ACCC proposes to grant authorisation for a period of 10 years.
The ACCC is now seeking submissions in response to the draft determination by 16 January 2025. Further information on the application, the draft determination and the process for making a submission is available on the ACCC’s public register at: Australian Payments Network Limited – Bulk Electronic Clearing System