Commonwealth Consolidated Acts

PAYMENT SYSTEMS AND NETTING ACT 1998 - SECT 8

  (1)   A person may apply to the Reserve Bank for approval of a payment or settlement system.

  (2)   The application must:

  (a)   be in the form approved in an instrument under subsection   (3); and

  (b)   be accompanied by the documents:

  (i)   specified in the regulations; or

  (ii)   required by the Reserve Bank.

  (3)   The Reserve Bank may, by notifiable instrument, approve a form for the purposes of paragraph   (2)(a).