Document ID: chunk:federal_register_of_legislation:F2022C00002:body:0:p3
Version: federal_register_of_legislation:F2022C00002
Segment Type: other
Provision Reference: 
Character Range: 5165–8021

is not a Regular Price for that Property or service, an amount by which the Fair Value of the Property or service exceeds the payment or other similar financial consideration made or given for it by the Direct Issuer Participant; and

       (c) a benefit (however named or described) of a similar nature to, or having the same effect as, a benefit of the kind specified in (a) or (b) above;

    Card Account means, in relation to a Card of a Scheme, the account that is debited when that Device is used to purchase goods or services;

    Card of a Scheme or Card of that Scheme means a Debit Card of a Scheme or a Prepaid Card of a Scheme;

    Card of a Scheme Pair means a Card of a Scheme that is part of a Scheme Pair;

    Card Transaction means a Debit Card Transaction or a Prepaid Card Transaction;

    Commencement Date means 1 July 2017;

    Core Service means, in relation to a Scheme, a service provided by the administrator of the Scheme in Australia or any of its Associated Entities that meets the requirements in the following paragraphs (a), (b) and (c):

       (a)       the service is used by a participant in the Scheme in Australia in relation to Devices of the Scheme that can be used to make payments for goods or services by:

          (i)        accessing a deposit account held at an authorised deposit-taking institution or a bank or other financial institution; or

          (ii)      using a store of value that has been prepaid or pre-funded,

       or in relation to transactions initiated using those Devices; and

       (b) without the service it would not be possible for a Direct Issuer Participant to be an Issuer or for another entity to be an Issuer through Sponsorship by a Direct Issuer Participant of the Scheme; and

       (c) the service (however named or described) relates to one or more of the following (each a Core Function) and only to one or more Core Functions:

          (i) the licensing of the Scheme's brands and other intellectual property owned by, or licensed to, the administrator of the Scheme in Australia or any of its Associated Entities, a licence (or sub-licence) of which is required in order to be a participant in the Scheme;

          (ii) connection to, and/or maintenance of a connection to, the systems to which it is necessary to connect in order to be a participant in the Scheme;

          (iii) transaction processing (including processing of charge-back transactions);

           (iv) clearing and settlement (including clearing and settlement of charge-back transactions);

           (v) authentication;

           (vi) authorisation;

           (vii) stand-in processing, clearing and settlement;

           (viii) fraud prevention; and

           (ix) handling, investigating and settling disputes, and requests or claims for chargebacks, raised by holders