Document ID: chunk:federal_register_of_legislation:F2018C00825:body:0:p2
Version: federal_register_of_legislation:F2018C00825
Segment Type: other
Provision Reference: 
Character Range: 2769–5282

able to be conveniently used under the facility;
                  (C) the withdrawal is of the full amount standing to the credit of the facility;
(b)  the facility may be used to make non-cash payments on more than one occasion;
(c) the facility is only promoted or marketed as a gift product;
(d) where the facility has an expiry date and the person who holds the facility is provided with a device to use the facility:
              (i)  the expiry date is prominently set out on the device in a manner that makes it clear that it is an expiry date; or
              (ii)  the date of issue of the facility (or a date that is no later than 3 months after that date) is prominently set out on the device together with a statement that the facility cannot be used after a specified period after the date set out on the device;
(e) where the facility has an expiry date but no device is provided, the expiry date is prominently displayed in a manner that:
              (i) could reasonably be expected to come to the attention of a person who is given, or given use, of the facility at the time it is given and at the time it is used; and
(ii)  makes clear that it is an expiry date;
(f) the facility is not a component of another financial product.
       low value non-cash payment facility means a non-cash payment facility in relation to which all of the following apply:
(a) the total amount available for making non-cash payments under all facilities of the same class issued by that issuer and held by any person at any one time does not exceed $1,000;
(b) the total amount available for making non-cash payments under all facilities of the same class issued by that issuer does not exceed $10,000,000 at any time;
(c) the facility is not a component of another financial product.
loyalty scheme means a non-cash payment facility in relation to which all of the following apply:
(a) the facility is issued as part of a scheme the dominant purpose of which is to promote the purchase of goods from, or the use of services of, the issuer of the facility or another person;
(b) a person who uses or holds the facility is allocated credits (however described) as a result of the purchase of goods from, or the use of the services of, the issuer of the facility or the other person;
(c) the credits allocated under the facility can be used to make a payment or part payment for goods or services or to obtain some other benefit;
(d) the facility is not a component of another financial product.
makes non-cash