Treasury Laws Amendment (Payments System Modernisation) Act 2025 (46 of 2025)

Schedule 1   Amendment of the Payment Systems (Regulation) Act 1998 etc.

Part 2   Special designated payment systems

Division 1   Amendments

Payment Systems (Regulation) Act 1998

19   After section 8

Insert:

8A Meaning of national interest

In determining, for the purposes of this Act, whether a particular action is in the national interest :

(a) the Minister may have regard to a matter (a core public interest matter )that the Reserve Bank would be required to have regard to if it were determining, for the purposes of this Act, whether the action is in the public interest (see section 8); and

(b) whether or not the Minister has regard to a core public interest matter - the Minister must identify, and have regard to, one or more matters each of which:

(i) is not a core public interest matter; and

(ii) is a matter that the Minister considers materially relevant to determining whether the action is in the national interest.