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

27   After subsection 11(1)

Insert:

(1A) To avoid doubt, the Reserve Bank may designate a payment system under subsection (1) whether or not that payment system has been designated by the Minister under subsection 11B(1).

Note: However, if the payment system has been designated by the Minister under subsection 11B(1), consultation requirements apply: see subsection 11A(1).