The new law will deliver a message to tech companies to "clean up their act," the country's prime minister has said.

Tech billionaire Elon Musk, the owner of social media platform X, criticized proposed legislation in Australia that aims to ban social media for children under 16.

U.S. billionaire Elon Musk, owner of social media platform X, has criticised Australia's proposed law to ban social media for children under 16 and fine social media platforms of up to A$49.5 million ($32 million) for companies for systemic breaches.