Document ID: chunk:federal_register_of_legislation:F2022C00003:body:0:p6
Version: federal_register_of_legislation:F2022C00003
Segment Type: other
Provision Reference: 
Character Range: 12440–15056

Standard.

    2.4 Each participant in a Scheme must do all things necessary on its part to ensure compliance with this Standard.

    2.5 If any part of this Standard is invalid, this Standard is ineffective only to the extent of such part without invalidating the remaining parts of this Standard.

    2.6 This Standard is to be interpreted:
      (a) in accordance with its objective; and
      (b) by looking beyond form to substance.

    2.7 This Standard shall not apply in respect of Rules of a Scheme that relate, or the conduct of participants in a Scheme that relates, to charges made by Merchants for accepting Cards for payment of a taxi fare in a State or Territory of Australia.  Accordingly payment of a taxi fare in any State or Territory of Australia effected using a Card is not a payment of a kind covered by this Standard.

    2.8 This Standard replaces each of the following Standards or parts of Standards:
      (a) each of Standard No. 2 Merchant Pricing for Credit Card Purchases which applied to the MasterCard System and Standard No. 2 Merchant Pricing for Credit Card Purchases which applied to the VISA System; and

      (b) clauses 9 and 10 and sub-clauses 12 (i), (ii) and (iii) of The Honour All Cards Rule in the Visa Debit and Visa Credit Card Systems and the No Surcharge Rule in the Visa Debit System Standard.

    3. Merchant Pricing
    Neither the Rules of a Scheme nor any participant in a Scheme shall prohibit or deter:

      (a)      a Merchant from recovering, by charging a Surcharge in respect of a Card Transaction in a Scheme at any time, an amount that does not exceed the Permitted Surcharge for that Merchant and that Scheme at that time; or

      (b) a Merchant, in recovering part or all of the Cost of Acceptance of Cards of the Scheme, from applying different Surcharges in respect of Card Transactions in different Schemes (except that, in relation to a Scheme Pair, the Rules of a Scheme may require that if a Surcharge is applied in respect of Card Transactions in one Scheme in the Scheme Pair, any Surcharge applied in respect of Card Transactions in the other Scheme in the Scheme Pair must be the same).

    4. Permitted Surcharge

    4.1 The Permitted Surcharge for a Merchant and a Scheme at any time is an amount not exceeding the Cost of Acceptance for that Merchant and that Scheme applicable at that time.

    4.2 For the purpose of clause 4.1 the Cost of Acceptance of Cards of a Scheme applicable at a time is:
      (a) subject to paragraph (b), the Cost of Acceptance of Cards of the Scheme calculated for a 12 month period that ended