Grease or line a 20cm round cake pan with cooking paper and preheat the oven to 160°C (325°F). (Alternatively line a 9" square baking pan).
Base;
Place the sugar, flour and baking powder in a bowl.
Mix in the butter and milk.
Spread evenly in the pan and set to the side.
Cheesecake;
Beat the cream into soft peaks and set aside.
Beat the cream cheese until smooth.
Beat in the eggs and cream.
Finally add the vanilla extract and icing sugar and beat until all combined.
Layer the drained and dried sliced peaches over the the base.
Pour over the cheesecake mixture and spread into a smooth layer.
Tap on the bench a few times to release any air bubbles.
Bake for 50-60 minutes. The middle should still be slightly wobbly.
Turn off the heat and allow it to cool to room temperature in the oven before placing it in the fridge for 4-8 hours.
Notes
*I have not personally tried this with fresh peaches but I would say they will cook the same. They may release more juice while cooking so tossing the slices in some flour before baking will help with that.