Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This Act provides for the regulation of payment systems and purchased payment facilities.
Note: The regulation of purchased payment facilities operates through regulation of the holders of the stored value of such facilities.
(2) Part 2 contains definitions of terms used in this Act.
(3) Part 3 deals with the regulation of payment systems. It provides for:
(a) the designation of payment systems (see Division 2 ); and
(b) the imposition of access regimes on participants in designated payment systems (see Division 3); and
(c) standards to be complied with by participants in designated payment systems (see Division 4); and
(d) the arbitration of disputes relating to designated payment systems (see Division 5); and
(e) directions to be complied with by participants in designated payment systems (see Division 6).
(4) Part 4 deals with the regulation of holders of the stored value of purchased payment facilities.
(5) Part 5 deals with miscellaneous matters.