On 7 May 2025, the Australian Competition and Consumer Commission (ACCC) issued a draft determination proposing to grant authorisation AA1000689 with a condition to enable Australian Payments Network Limited (AusPayNet) and members of the Australian Paper Clearing System to engage in conduct to facilitate the government’s wind down of Australia’s cheques system.

The proposed conduct includes making and giving effect to agreements with each other and third parties, such as the Reserve Bank of Australia, government and industry participants, and engaging in discussions to monitor progress, report issues and develop solutions to facilitate the wind down of cheques.

The conduct reflects the proposed collaboration between the financial services industry and government in the Treasury’s Cheques Transition Plan, which aims to cease the issuing of cheques by 30 June 2028 and cease the acceptance of cheques and close the cheques system by 30 September 2029.

The ACCC granted interim authorisation on 18 December 2024 for AusPayNet to engage in preparatory conduct to begin the work needed to meet the Treasury’s timeframe for the transition away from cheques.

The ACCC proposes to grant authorisation until 31 December 2030.

The ACCC is now seeking submissions in response to the draft determination by Friday 23 May 2025 before making its final decision.