Australia plans "world-leading" social media ban for children under 16.

Under the proposed legislation, social media companies would face sizable fines for allowing younger children to access their platforms, but there would be no penalties for users or parents of users who ignore the law, the Australian government said in a statement.

The government said the proposed legislation would not allow exemptions¹ for children whose parents consent to their use of social media platforms. The bill also will not include "grandfathering arrangements" that could exempt² young people who already have social accounts.