Document ID: chunk:federal_register_of_legislation:F2022C00003:body:0:p7
Version: federal_register_of_legislation:F2022C00003
Segment Type: other
Provision Reference: 
Character Range: 14840–17630

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 not more than 13 months before that time; or

      (b) if the Cost of Acceptance of Cards of the Scheme for a Merchant for a 12 month period preceding that time is not reasonably ascertainable, an estimate of the average cost of acceptance of Cards of the Scheme for a period of 12 months calculated by the Merchant in good faith using only known and/or estimated Permitted Cost of Acceptance Elements and Card Transaction volumes for Cards of the Scheme.

    Each 12 month period referred to in paragraph (a) or paragraph (b) is a Reference Period.

    5. Cost of Acceptance

    5.1 Subject to the other provisions of this clause 5, Cost of Acceptance for a Merchant, a Scheme and a Reference Period at any time means, in relation to the Merchant's acceptance of a Card of the Scheme, the average cost per Card Transaction in the Scheme calculated for the Reference Period as follows:
      (a) by adding only the following amounts paid by the Merchant in respect of that Scheme during that Reference Period, which are to be determined taking into account any discount, rebate or other allowance received or receivable by the Merchant to the extent any such discount, rebate or other allowance is ascertainable:

          (i) the applicable Merchant Service Fee or Merchant Service Fees in respect of Card Transactions in the Scheme;

          (ii) fees paid to any entity that was the Merchant's Acquirer, Payment Facilitator or Payment Service Provider during the Reference Period for:

             (A) the rental and maintenance of payment card terminals that process Cards of that Scheme; or

             (B) providing gateway or fraud prevention services referable to that Scheme;

          (iii) fees incurred in processing Card Transactions in that Scheme and paid to any entity that was the Merchant's Acquirer or Payment Facilitator during the Reference Period including international service assessments or cross-border transaction fees, switching fees and fraud-related chargeback fees (but, for the avoidance of doubt, excluding the amount of chargebacks); and

          (iv) if the Merchant acts as agent for a principal, fees or premiums paid by the Merchant to an entity that is not a Related Body Corporate of the Merchant to insure against the risk that the Merchant will be liable to a customer for the failure of its principal to deliver goods or services purchased through a Card Transaction provided that such risk arises because payment for the relevant goods or services is effected through a Card Transaction,

      but in each case only