Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p27
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 27/43)
Character Range: 769781–772529

of an opinion about the payment methods available to the customer, should not require an Australian financial services licence.
 (la) a financial service provided by a person (person 1) to another person (person 2), if:
 (i) the financial service is provided in the ordinary course of person 1's business; and
 (ii) person 1:
 (A) holds an Australian financial services licence authorising the provision of financial services other than the financial service mentioned in subparagraph (i); or
 (B) does not hold an Australian financial services licence; and
 (iii) the financial service consists of either or both of the following:
 (A) advising person 2 in relation to a non‑cash payments facility that person 2 may use, or has used, to pay person 1 for a financial product or a financial service;
 (B) arranging to deal in a non‑cash payments facility that person 2 will use to pay person 1 for a financial product or a financial service;
 (lb) a financial service that is the issue of a non‑cash payment facility if:
 (i) it is a facility for making non‑cash payments; and
 (ii) under the facility, payments may be made only to the issuer of the facility or a related body corporate of the issuer;
 (lc) an Australia Post presentment and payment processing facility known as POSTbillpay or billmanager;
 (m) a financial service provided by a person in the following circumstances:
 (i) the service consists only of either or both of:
 (A) dealing in derivatives; and
 (B) dealing in foreign exchange contracts;
 (ii) the service does not involve the making of a market for derivatives or foreign exchange contracts;
 (iii) the dealing is entered into for the purpose of managing a financial risk that arises in the ordinary course of a business;
 (iv) the person does not deal in derivatives or foreign exchange contracts as a significant part of the person's business;
 (v) the dealing is entered into on the person's own behalf;
Example of financial service to which paragraph (m) applies:
A series of forward foreign exchange contracts entered into by a gold mining company to hedge against the risk of a fall in the price of gold.
Example of financial service to which paragraph (m) does not apply:
The issue and disposal of derivatives relating to the wholesale price of electricity are not transactions to which this paragraph applies.
 (ma) a financial service provided by a person in the following circumstances:
 (i) the service consists only of 1 or more of the following:
 (A) dealing in derivatives over carbon units, Australian carbon credit units or eligible international emissions units;
 (B) dealing in a carbon unit, an Australian carbon credit unit or an eligible international emissions unit;
 (C) dealing in foreign exchange