Document ID: chunk:federal_register_of_legislation:F2022C00001:body:0:p3
Version: federal_register_of_legislation:F2022C00001
Segment Type: other
Provision Reference: 
Character Range: 5133–8024

it would not be possible for a Direct Issuer Participant to be an Issuer or for another entity to be an Issuer through Sponsorship by a Direct Issuer Participant of the Scheme; and

       (c) the service (however named or described) relates to one or more of the following (each a Core Function) and only to one or more Core Functions:

           (i)             the licensing of the Scheme's brands and other intellectual property owned by, or licensed to, the administrator of the Scheme in Australia or any of its Associated Entities, a licence (or sub-licence) of which is required in order to be a participant in the Scheme;

           (ii)           connection to, and/or maintenance of a connection to, the systems to which it is necessary to connect in order to be a participant in the Scheme;

           (iii)         transaction processing (including processing of charge-back transactions);

           (iv)          clearing and settlement (including clearing and settlement of charge-back transactions);

           (v)           authentication;

           (vi)          authorisation;

           (vii)        stand-in processing, clearing and settlement;

           (viii)      fraud prevention; and

           (ix)          handling, investigating and settling disputes, and requests or claims for chargebacks, raised by holders of Devices.

       A service will relate only to one or more Core Functions for the purpose of this paragraph (c) even if it involves or includes incidental services necessary to support one or more Core Functions;

    Credit Card Account means, in relation to a Credit Card of a Scheme, the account that is debited when that Device is used to purchase goods or services on credit;

    Credit Card of a Scheme or Credit Card of that Scheme means, in relation to a Scheme, a Device issued by a participant in the Scheme in Australia under the Rules of the Scheme that can be used for purchasing goods or services on credit;

    Credit Card Transaction means, in relation to a Scheme, a transaction in that Scheme between a holder of a Credit Card of that Scheme and a Merchant involving the purchase of goods or services using a Credit Card of that Scheme that is Acquired by an Acquirer (but does not include any transaction to reverse such a transaction or provide a credit or make a chargeback in relation to such a transaction);

    Debit Card Scheme means each payment system referred to as a 'Scheme' under Standard No. 2 of 2016 The Setting of Interchange Fees in the Designated Debit and Prepaid Card Schemes and Net Payments to Issuers;

    Device means any card, plate or other payment code or device, including a code or device where no physical card or other embodiment is issued and a code or device used or to be used for only one transaction;

    Direct Issuer Participant means, in relation to a Scheme, a participant