Payment Systems Legislation Amendment (2025 Measures No. 1) Regulations 2025 (F2025L01547)

Schedule 2   Other amendments

Corporations Regulations 2001

2   After regulation 7.1.04N

Insert:

7.1.04P Specific things that are not financial products - payment systems

For the purposes of paragraph 765A(1)(j) of the Act, each of the following is not a financial product:

(a) the credit card system operated within Australia known as the MasterCard system or MasterCard network card system and designated as a payment system under section 11 of the Payment Systems (Regulation) Act 1998 on 12 April 2001;

(b) the credit card system operated within Australia known as the VISA system or the VISA network card system and designated as a payment system under section 11 of the Payment Systems (Regulation) Act 1998 on 12 April 2001;

(c) the debit card system operated within Australia known as Visa debit and designated as a payment system under section 11 of the Payment Systems (Regulation) Act 1998 on 23 February 2004;

(d) the payment system operated within Australia known as the ATM system and designated by Designation No 1 of 2008 as a payment system under section 11 of the Payment Systems (Regulation) Act 1998 on 10 December 2008;

(e) the debit card system operated within Australia known as the EFTPOS system and designated by Designation No 1 of 2012 as a payment system under subsection 11(1) of the Payment Systems (Regulation) Act 1998 on 12 June 2012;

(f) the debit card system operated within Australia known as Debit MasterCard and designated by Designation No 2 of 2015 (Designation of the Debit MasterCard system) as a payment system under subsection 11(1) of the Payment Systems (Regulation) Act 1998 on 15 October 2015;

(g) the prepaid card system operated within Australia and designated by Designation No 3 of 2015 (Designation of the EFTPOS prepaid system) as a payment system under subsection 11(1) of the Payment Systems (Regulation) Act 1998 on 15 October 2015;

(h) the prepaid card system operated within Australia known as MasterCard Prepaid and designated by Designation No 4 of 2015 (Designation of the MasterCard prepaid system) as a payment system under subsection 11(1) of the Payment Systems (Regulation) Act 1998 on 15 October 2015;

(i) the prepaid card system operated within Australia known as Visa Prepaid and designated by Designation No 5 of 2015 (Designation of the Visa prepaid system) as a payment system under subsection 11(1) of the Payment Systems (Regulation) Act 1998 on 15 October 2015.