Corporations and Financial Sector Legislation Amendment Act 2013 (59 of 2013)

Schedule 1  

Part 1   Payment systems and netting

Payment Systems and Netting Act 1998

9   Amended provisions do not have effect to extent they result in an acquisition of property

(1) In this item:

acquisition of property has the same meaning as in paragraph 51(xxxi) of the Constitution.

just terms has the same meaning as in paragraph 51(xxxi) of the Constitution.

(2) This item applies if, because of an amendment made by this Part, the operation of a provision of the Payment Systems and Netting Act 1998 would (but for this item) result in an acquisition of property otherwise than on just terms.

(3) That provision of the Payment Systems and Netting Act 1998 does not apply to the extent that its operation would otherwise so result in that acquisition of property.


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