Question Time AU

Bill Debate · Second Reading

Treasury Laws Amendment (Payments System Modernisation) Bill 2025; Second Reading

House of Representatives · Wednesday 30 July 2025

Official Hansard for this day (APH) · Read this debate on OpenAustralia

At a glance

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.

Summary in reported speech - not a transcript. AI-generated, so check the official record before quoting.

How the debate unfolded

Opened the debate

Daniel Mulino (Fraser) (Australian Labor Party) ALP

Mulino moved that the bill be read a second time, arguing it updated the regulatory framework to manage risks from new technologies. Mulino stated the amendments expanded definitions to ensure the Reserve Bank of Australia could regulate all participants, including digital wallet and buy now, pay later providers. Mulino noted the introduction of a ministerial designation power allowing the Treasurer to identify services posing national significance risks for additional oversight. Mulino concluded that these changes modernised the framework to ensure it remained fit for purpose into the future.