Document ID: chunk:federal_register_of_legislation:F2019N00027:body:0:p31
Version: federal_register_of_legislation:F2019N00027
Segment Type: other
Provision Reference: 
Character Range: 77388–80132

or device used or to be used for only one transaction;

    Direct Issuer Participant means in relation to a Scheme, a participant in that Scheme in Australia as Issuer, or as a Sponsor for one or more Issuers, that is not an Indirect Issuer Participant in that Scheme in Australia. Without limitation, for:

       (a) Debit MasterCard and MasterCard Prepaid this means any Principal Customer or Association Customer, each as defined in the Rules of the Scheme, in its capacity as Issuer or as Sponsor for one or more Issuers;

       (b) VISA Debit and Visa Prepaid this means any Principal-Type Member as defined in the Rules of the Scheme in its capacity as Issuer or as Sponsor for one or more Issuers; or

       (c) EFTPOS System and EFTPOS Prepaid this means:

          (i)  any eftpos Issuer that is not a Non-clearer; or

          (ii) any Clearing Agent,

       with each of those expressions having the meaning given in the Rules of the Scheme;

    Direct Issuer Participant Payments has the meaning given to it in clause 5.2;

    Direct Issuer Participant Receipts has the meaning given to it in clause 5.2;

    EFTPOS Scheme Rules are the rules promulgated under the constitution of EFTPOS Payments Australia Limited (ABN 37 136 180 366) and any schedule, document, specification or rule published by EFTPOS Payments Australia Limited pursuant to those rules;

    Fair Value means, in relation to any Property or service, the amount that would be paid to acquire the Property or service in an orderly transaction between independent, unrelated and well informed parties at the earlier of:

       (a) the date the Property or service was first provided; and

       (b) the date the Property or service was committed to be provided,

    to the Direct Issuer Participant;

    Incentive Test: a Benefit meets the Incentive Test in relation to a Scheme Pair if it is given for a purpose of, or has or will likely have the effect of, one or more of the following:

       (a) incentivising the entry into of a contract relating to the issue of Cards of any Scheme in the Scheme Pair;

       (b) promoting or incentivising the issuance or use of Cards of any Scheme in the Scheme Pair; or

       (c) providing or funding incentives to holders of Cards of any Scheme in the Scheme Pair to use those cards.

    Benefits that meet the Incentive Test in relation to a Scheme Pair include lump-sum, volume based and transaction-specific Benefits such as:

       (i)  incentives to market Cards of any Scheme in the Scheme Pair; and

       (ii) any of the following earned, accrued or receivable for agreeing to issue Cards of any Scheme in the Scheme Pair or for Card Transactions undertaken in any Scheme in the Scheme Pair