Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of subparagraph 51(1)(a)(i) of the Competition and Consumer Act 2010 , anything that is done:
(a) by a participant in relation to the setting, or charging, of wholesale fees (also known as interchange fees) payable under a payment system to which an interchange fees standard applies; and
(b) in accordance with that standard;
is taken to be specified in, and specifically authorised by, this Act.
(2) In this section:
"interchange fees standard" means any of the following standards as amended and in force from time to time:
(a) a standard that is known as Standard No. 1, The Setting of Wholesale ("Interchange") Fees and that was determined by the Reserve Bank on 26 August 2002;
(b) a standard specified by the regulations for the purposes of this paragraph.