Document ID: chunk:federal_register_of_legislation:F2017L00399:reg:4
Version: federal_register_of_legislation:F2017L00399
Segment Type: reg
Provision Reference: reg 4
Character Range: 54858–56952

4          "Real-time financial transaction"

             (1)    A carriage service provider may verify the identity of a service activator by making a real-time financial transaction in relation to an existing specified financial account held by the service activator.
             (2) Subject to subitems (3) and (4), the carriage service provider is only taken to have verified the identity of a service activator in accordance with subitem (1) if:
               (a)    the service activator gives the carriage service provider information identifying the service activator as the holder of an existing specified financial account;
               (b)    the carriage service provider, using the details of the service activator's account, makes a real-time financial transaction in relation to the account to determine if the account is active;
               (c)    the carriage service provider receives a transaction code confirming that the account is active; and
               (d)    the description of the method of identity verification is recorded by the carriage service provider as "real-time financial transaction".
             (3) For the purposes of paragraph (2)(b), the carriage service provider must complete the real-time financial transaction in a way that does not financially disadvantage the service activator.
             (4) If, in connection with subitem (2), the service activator and the carriage service provider agree to implement a direct debit arrangement using the service activator's account, nothing prevents the carriage service provider from activating the prepaid mobile carriage service at the same time as, or immediately before, the provider receives confirmation that the service activator's account is active.
             (5)  In this item:
               real-time financial transaction means a financial transaction for which the carriage service provider can confirm at the time of the making of the transaction that the service activator can complete the purchase of the desired goods or services by using the specified financial account.