Payment Systems (Regulation) Regulations 20061

Select Legislative Instrument 2006 No. 239

I, PHILIP MICHAEL JEFFERY, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Payment Systems (Regulation) Act 1998.

Dated 7 September 2006

P. M. JEFFERY

Governor‑General

By His Excellency’s Command

CHRIS PEARCE

Parliamentary Secretary to the Treasurer

 

 

1 Name of Regulations

  These Regulations are the Payment Systems (Regulation) Regulations 2006.

2 Commencement

  These Regulations commence on the day after they are registered.

3 Repeal

  The Payment Systems (Regulation) Regulations 2003 are repealed.

4 Definition

  In these Regulations:

Act means the Payment Systems (Regulation) Act 1998.

5 Specified standards

  For paragraph 18A (2) (b) of the Act, the following standards are specified:

 (a) the standard titled The Setting of Wholesale (“Interchange”) Fees in the Designated Credit Card Schemes, determined by the Reserve Bank of Australia on 24 November 2005;

 (b) the standard titled The Setting of Interchange Fees in the Visa Debit Payment System, determined by the Reserve Bank of Australia on 7 July 2006.

Note

1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.