Document ID: chunk:federal_register_of_legislation:F2019N00027:body:0:p41
Version: federal_register_of_legislation:F2019N00027
Segment Type: other
Provision Reference: 
Character Range: 102569–105379

the Scheme in Australia must, not later than 30 days after the end of each Quarter, certify in writing to the Reserve Bank of Australia each of the following for that Quarter for the Scheme (and in the case of paragraph (e), the relevant Scheme Pair):

       (a) the total value of Card Transactions undertaken in the Scheme in that Quarter;

       (b) the number of Card Transactions undertaken in the Scheme in that Quarter;

       (c) the total value of all Interchange Fees (exclusive of goods and services tax) payable in respect of the Card Transactions undertaken in the Scheme during that Quarter;

       (d) the total value of Interchange Fees (exclusive of goods and services tax) payable in respect of Card Transactions undertaken in the Scheme during the Quarter divided by the total number of the Card Transactions undertaken in the Scheme during the Quarter;

       (e) the total value of Interchange Fees (exclusive of goods and services tax) payable in respect of Scheme Pair Transactions undertaken in the Schemes that form part of that Scheme Pair during the Quarter divided by the total number of the Scheme Pair Transactions undertaken in the Schemes that form part of that Scheme Pair during the Quarter; and

       (f) each Interchange Fee Category that applied for some or all of the Quarter and, for each of those categories:

          (i) the Interchange Fee rates or amounts (whichever is applicable) that applied during the Quarter (expressed as a percentage or an amount, not as a range); and

          (ii) the total value of Interchange Fees (exclusive of goods and services tax) payable in respect of that Quarter that are referrable to Card Transactions undertaken in the Scheme in that Quarter in that category.

    7. Commencement and Implementation

    7.1 This Standard comes came into force on the Commencement Date, but certain provisions in it have had a transitional application as set out in this clause 7 of this Standard as at the Commencement Date.

    7.2   Determination of whether there is an Above Benchmark Reference Period must be made Quarterly in accordance with clause 4.2 from the Commencement Date irrespective of whether the relevant Reference Period commenced before or after the Commencement Date. This means that the first determination under clause 4.2 must be made after the Commencement Date in relation to the Reference Period ending 30 June 2017, even though that Reference Period commenced before the Commencement Date.

    7.3   For the purposes only of:

       (a) clause 5; and

       (b) clause 6.4 and clause 7.4 as it relates to clause 6.4:

    the:

       (c) first Reporting Period will be the period from the Registration Date to 30 June 2018; and

       (d) Net Compensation in relation to an Issuer and a Scheme Pair