NPP Australia Limited - Authorisation - A91560 - A91562

Summary

On 18 October 2016, the NPP Australia Limited (NPPA) applied for authorisation on the behalf of current and future participants in the New Payments Platform (NPP) for certain provisions of the NPP Regulations.

These provisions broadly relate to suspension and termination, eligibility requirements and settlement provisions for participants in the NPP. NPP is an open access infrastructure that is being developed to enable households, businesses and government agencies to make simply addressed payments, with near real-time funds availability to the recipient, on a 24/7 basis.

NPPA has developed draft NPP Regulations to govern the rules of access and participation in the NPP, including high level obligations in relation to basic infrastructure transactions and settlement regulations.

Authorisation is sought for proposed NPP Regulations concerning suspension and termination of NPP Participants, eligibility requirements and settlement provisions.

NPPA seeks authorisation for five years in relation to the suspension and termination provisions and in perpetuity for the eligibility requirements and settlement provisions.

A copy of the application is available by following the link below.

On 8 March 2017, the ACCC issued a draft determination proposing to grant authorisation for five years in relation to the suspension and termination provisions and in perpetuity for the eligibility requirements and settlement provisions.

On 5 April 2017, the ACCC released a final determination granting authorisation for five years in relation to the suspension and termination provisions and in perpetuity for the eligibility requirements and settlement provisions.

Applicant(s)

  • NPP Australia Limited

Authorisation number(s)

  • A91560
  • A91561
  • A91562