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

48   Paragraph 15(1)(d)

Repeal the paragraph, substitute:

(d) the payment system concerned ceases to exist; or

(e) either:

(i) in the case of an access regime imposed by the Reserve Bank under subsection 12(1) - the payment system concerned ceases to be a designated payment system; or

(ii) in the case of an access regime imposed by a nominated special regulator under subsection 12(1A) - the payment system concerned ceases to be a special designated payment system.

Note: Even if an access regime does not cease to be in force under this subsection, the operation of section 15AA may result in the whole or a part of the access regime not applying.