Commonwealth Consolidated Acts

PAYMENT SYSTEMS (REGULATION) ACT 1998 - SECT 29

Notification of determination or variation of standard or imposition or variation of access regime

  (1)   Subsection   ( 2) applies to the following actions taken by the Reserve Bank:

  (a)   the imposition of an access regime;

  (b)   the variation of an access regime;

  (c)   the determination of a standard;

  (d)   the variation of a standard.

  (2)   If this subsection applies to an action, the Reserve Bank must take reasonable steps to ensure that the participants in the payment system concerned are informed of the action .

Notification of revocation of a standard or an access regime

  (3)   If the Reserve Bank revokes a standard or an access regime, the Reserve Bank must take reasonable steps to ensure that any participants in the payment system concerned are informed of the revocation .