Document ID: chunk:federal_register_of_legislation:C2016A00009:clause:1_55b
Version: federal_register_of_legislation:C2016A00009
Segment Type: clause
Provision Reference: sch 1 cl 55B
Character Range: 3974–4597

55B  Payment surcharges must not be excessive
 (1) A corporation must not, in trade or commerce, charge a payment surcharge that is excessive.
 (2) A payment surcharge is excessive if:
 (a) the surcharge is for a kind of payment covered by:
 (i) a Reserve Bank standard; or
 (ii) regulations made for the purposes of this subparagraph; and
 (b) the amount of the surcharge exceeds the permitted surcharge referred to in the Reserve Bank standard or the regulations.
 (3) Subsection (1) does not apply to a corporation who is exempted from its operation by the regulations.

Division 3—Information about payment surcharges