Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 (154 of 2007)
Schedule 4 Technical amendments relating to legislative instruments
Cheques Act 1986
10 Subsection 70A(4)
Repeal the subsection, substitute:
(4) The Reserve Bank of Australia may, by legislative instrument, determine that a settlement system is a recognised settlement system for the purposes of this section. The Reserve Bank of Australia is to take the public interest into account in determining that a settlement system is a recognised settlement system, and, in doing so, is to have regard to the rules that govern the system.
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