The Payments System Board's responsibilities and powers are set out in separate Acts: Reserve Bank Act 1959; Payment Systems (Regulation) Act 1998; Payment Systems and Netting Act 1998; and Part 7.3 of the Corporations Act 2001. The Payments System Board governs the payments system policy of the Reserve Bank of Australia.
The membership of the Payments System Board is specified in section 25A of the Reserve Bank Act 1959:
the Governor of the RBA (Chair of the Payments System Board); one representative of the RBA (who is appointed by the Governor and who must be either a member of the Reserve Bank Board or a member of the RBA service; Deputy Chair of the Payments System Board); one representative of the Australian Prudential Regulation Authority - APRA (who is appointed by APRA and who must be either an APRA member or an APRA staff member); and up to five other members (who are appointed by the Treasurer for a term of up to five years).
Further information
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Type of Body
E. Statutory office holder, offices and committees
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Established By / Under
Act / Regulation
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Established By/Under More info
Reserve Bank Act 1959
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Paid Members?
Yes
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Max No. of Board/Committee Members
8
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Annual Report Prepared and tabled?
Yes
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Classification
B. Secondary statutory structure
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Function Categorization
Regulatory / Review / Inquiry / Commission
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Creation Date
Current board appointments
| Position | Appointee | Start Date | End Date |
|---|---|---|---|
| Chair | Ms. Michele Bullock | 18 September 2023 | 17 September 2030 |
| Deputy Chair | VACANT | ||
| Member | Prof. Ross Buckley | 1 August 2023 | 31 July 2028 |
| Member | Prof. Deborah Ralston | 15 December 2021 | 14 December 2026 |
| Member | Ms. Gina Cass-Gottlieb | 1 August 2023 | 31 July 2028 |
| Member | Dr. Michelle Deaker | 1 August 2023 | 31 July 2028 |
| Member | Mr. John Lonsdale PSM | 1 November 2022 | 30 October 2027 |
| Member | Mr. Scott Farrell | 23 March 2022 | 22 March 2027 |
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