Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:2_820f
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 2 cl 820F
Character Range: 311002–312415

820F  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.