Banking Amendment (Credit Card) Regulation 2014
Select Legislative Instrument No. 207, 2014
I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation.
Dated 11 December 2014
Peter Cosgrove
Governor‑General
By His Excellency’s Command
Mathias Cormann
Minister for Finance
for the Treasurer
Contents
1............ Name................................................................................................... 1
2............ Commencement................................................................................... 1
3............ Authority............................................................................................. 1
4............ Schedules............................................................................................ 1
Schedule 1—Amendments 2
Banking Regulations 1966 2
1 Name
This is the Banking Amendment (Credit Card) Regulation 2014.
2 Commencement
This instrument commences on 1 January 2015.
3 Authority
This instrument is made under the Banking Act 1959.
4 Schedules
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Schedule 1—Amendments
Banking Regulations 1966
1 Subregulation 2(1)
Repeal the following definitions:
(a) definition of constitutional corporation;
(b) definition of credit card acquiring;
(c) definition of credit card issuing;
(d) definition of credit card transaction;
(e) definition of limit;
(f) definition of merchant;
(g) definition of participant;
(h) definition of payment system;
(i) definition of specialist credit card institution.
2 Subregulation 2(2)
Repeal the subregulation.
3 Regulation 4
Repeal the regulation.
4 Paragraph 4AAB(b)
Repeal the paragraph.