Document ID: chunk:federal_register_of_legislation:F2009C00144:body:0:p4
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weighting the individual scheme cost-based measures by the shares of each Scheme in the value of credit card transactions undertaken in all the Schemes. The Reserve Bank of Australia will publish the common cost-based benchmark by 30 September of the year in which the cost-based measure must be calculated.

18. The cost-based measure for a Scheme must be calculated in 2006 and each third year thereafter. If the Reserve Bank of Australia agrees in writing, a recalculation of the cost-based measure for a Scheme and of the common cost-based benchmark may be undertaken at other times if changes in eligible costs or other factors warrant.

19. The Reserve Bank of Australia may at any time, by notification on its website, waive or suspend the requirement to recalculate the cost-based measure and the common cost-based benchmark, in which case the common cost-based benchmark in force at that time will continue to apply.

20. For the purposes of paragraphs 10 and 11, the average of interchange fees in a Scheme is to be expressed as a percentage of transaction values. It is to be calculated by dividing the total interchange revenue that would have been payable had the interchange fees implemented on the dates specified in paragraph 10 or 12 been applicable in the previous financial year, by the value of transactions in that year.

Transparency

21. The administrator of a Scheme or a representative of the participants in the Scheme in Australia must publish the interchange fee rates of the Scheme in Australia on the Scheme's website or make the interchange fee rates generally available through other means.

22. The administrator of a Scheme must certify annually in writing to the Reserve Bank of Australia, on or before 30 November each year, that interchange fees of the Scheme in Australia over the prior twelve months ending 31 October were in compliance with this Standard.

Notes to the Payment Systems (Regulation) Act 1998 - The Setting of Wholesale ('Interchange') Fees in the Designated Credit Card Schemes

The Payment Systems (Regulation) Act 1998 - The Setting of Wholesale ('Interchange') Fees in the Designated Credit Card Schemes (in force under Section 18 of the Payment Systems (Regulation) Act 1998) as shown in this compilation is amended as indicated in the Tables below.

Table of Instruments
Title                                                                                                                                               Date of FRLI registration  Date of commencement
Payment Systems (Regulation) Act 1998 - The Setting of Wholesale ('Interchange') Fees in the Designated Credit Card Schemes (see S205, 25/11/2005)  22/02/2006                 01/07/2006
                                                                                                                                                    (see F2006L00468)
Payment Systems (Regulation) Act 1998 - Variation of Interchange Fee Standards (see S271, 10/12/2008)                                               18/12/2008                 08/12/2008
                                                                                                                                                    (see F2008L04668)

Table of Amendments

ad. = added or inserted am. = amended rep. = repealed rs. = repealed and