In the past the Reserve Bank of Australia provided a facility for retail investors to buy Australian Government Securities (Treasury Bonds and/or Treasury Indexed Bonds) directly from the Australian Government. This facility was closed on 21 May 2013.
From 21 May 2013 onwards, retail investors are able to buy and sell Exchange-traded Australian Government Bonds (eAGBs) on the Australian Securities Exchange (ASX). Please refer to the Australian Government Bonds for information about investing in eAGBs.
If you own existing Australian Government Securities (AGS), you are able to do one of the following:
- hold the AGS until maturity;
- exchange the AGS for equivalent eAGBs; or
- sell the AGS back to the Government;
Banks around the world are stopping the use of cheques. In November 2024, the Australian government confirmed that Australia will move to a chequeless system. As part of this change the AOFM and its registry provider, Computershare will stop issuing cheque payments.
From 1 December 2026 payments in relation to Australian Government Securities (AGS) will be made only by direct deposit to an Australian dollar bank account. If a valid bank account is not provided, payments will be held in a non-interest bearing account until one is supplied. If you currently receive payments by cheque, you must switch to direct deposit before December 2026 using the Direct Credit Form. This change applies to the eAGB securities too. If you do not wish to update your payment details, you may ask the Government to buy back your holdings. See the Buyback Facility page for details.
Please refer to the Exchange Facility page if you would like to exchange your AGS for equivalent eAGBs.
Please refer to the Buyback Facility page if you would like sell your AGS back to the Government.
Please refer to the Retail Investor Forms page for the relevant form to complete one of the following:
- transfer your AGS holding to another person;
- set up direct deposit for payments;
- change your investor details on the Register;
- consolidate your holding; or
- transfer or transmit a deceased estate holding.
All further enquiries concerning your AGS holding should be directed to Computershare as the Australian Government’s Debt Registrar. Computershare’s contact details are provided on the Registrar Contact Details page.
