Treasury Laws Amendment (Payments System Modernisation) Bill 2025

Stage by Stage

Summaries in reported speech - not a transcript. In date order, both chambers.

1. Wednesday 30 July 2025 · House of Representatives

   Second Reading

   The debate concerned the introduction of legislation to update the regulatory framework for Australia's payments system. The Assistant Treasurer argued that the bill was necessary to address risks from emerging technologies by expanding the Reserve Bank of Australia's oversight capabilities. The proposed changes would bring digital wallet and buy now, pay later providers under regulation and allow the Treasurer to designate high-risk services. The debate was adjourned without further discussion or opposition recorded in the transcript.

   Outcome: Debate adjourned.

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2. Tuesday 2 September 2025 · House of Representatives

   Second Reading

   The debate concerned modernising the Payment Systems (Regulation) Act 1998 to include digital wallets, buy-now-pay-later services, and blockchain technologies under Reserve Bank of Australia oversight. Coalition members supported the bill's objectives but moved an amendment requiring parliamentary disallowance powers for decisions by the RBA and the Treasurer, arguing that expanded regulatory reach necessitated greater democratic accountability. Government members defended the bill as essential for consumer protection, financial stability, and national security, rejecting the amendment to preserve regulatory independence. The amendment was defeated, and the bill was not passed on the division.

   Outcome: The second reading amendment was not carried, and the bill was not passed on the division.

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3. Tuesday 2 September 2025 · House of Representatives

   Third Reading
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4. Thursday 4 September 2025 · House of Representatives

   Consideration of Senate Message
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5. Thursday 4 September 2025 · Senate

   Limitation of Debate
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