Relevant determinations
Reserve Bank determination (1) For the purposes of subparagraph 820E(2)(e)(iii), the Reserve Bank may, by legislative instrument, determine a payment system. (2) In making a determination under subsection (1), the Reserve Bank must have regard to matters that include the following: (a) whether the aggregate value of Australian dollar payments processed through the system is high relative to other payment systems; (b) whether the system mainly handles time‑critical payments; (c) whether the system mainly handles high‑value payments; (d) whether the system is used to settle payments that effect settlement in other clearing and settlement facilities; (e) whether the system is located in Australia; (f) any matter prescribed by the regulations for the purposes of this paragraph. ASIC determinations (3) ASIC may, by legislative instrument: (a) determine circumstances for the purposes of paragraph 820E(2)(f); or (b) determine circumstances for the purposes of paragraph 820E(3)(e); or (c) determine, for each paragraph of subsection 820E(3), principles for working out if that paragraph applies to a clearing and settlement facility. Note: A single document could cover any or all of the things mentioned in paragraphs (a) to (c). (4) In making a determination under subsection (3), ASIC must have regard to any relevant advice received from the Reserve Bank.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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