Document ID: chunk:federal_register_of_legislation:F2015C00018:body:0:p3
Version: federal_register_of_legislation:F2015C00018
Segment Type: other
Provision Reference: 
Character Range: 5328–8322

8.  Any authorised deposit-taking institution or former specialist credit card institution is eligible to apply to participate in the Scheme in Australia.

       9. The administrator of the Scheme may establish (through the rules of the Scheme or otherwise) any criteria for eligibility to apply to participate in the Scheme in Australia in respect of entities other than authorised deposit-taking institutions and former specialist credit card institutions ("eligibility criteria"), provided these eligibility criteria are reasonably related to the risks to the Scheme or its participants, merchants or cardholders that are likely to arise from the participation. If eligibility criteria are established they must be applied by the administrator of the Scheme in accordance with their terms.

       10. Any entity, other than an authorised deposit-taking institution or former specialist credit card institution, is eligible to apply to participate in the Scheme in Australia, provided the entity meets any eligibility criteria.

       Assessment of applications to participate in the Scheme and terms of participation

       11. Subject to paragraphs 12 and 13, the administrator of the Scheme must establish (through the rules of the Scheme or otherwise) and apply criteria for assessing applications for participation in the Scheme in Australia by eligible applicants ("assessment criteria").

       12.  Neither the rules of the Scheme, nor the administrator of or any participant in the Scheme, shall discriminate between specialist credit card institutions as a class and authorised deposit-taking institutions other than specialist credit card institutions as a class in establishing or applying assessment criteria or in relation to the rights and obligations of participants in the Scheme in Australia, except to the extent reasonably required to assess and address the risks to the Scheme or its participants, merchants or cardholders arising, or likely to arise, from the participation of the class of entity in the Scheme in Australia.

       13. Without limiting paragraph 12, neither the rules of the Scheme, nor the administrator of or any participant in the Scheme, shall discriminate against an entity (or class of entity) in establishing or applying assessment criteria or in relation to the rights and obligations of participants in the Scheme in Australia, except to the extent reasonably required to assess and address the risks to the Scheme or its participants, merchants or cardholders arising, or likely to arise, from the participation of the entity (or class of entity) in the Scheme in Australia.

       14.  Neither the rules of the Scheme nor any participant in the Scheme shall prevent a participant in the Scheme in Australia from being:

           (a) an issuer only; or

           (b) an acquirer only; or

           (c) both an issuer and an acquirer.

       15.  Neither the rules of the Scheme nor any participant in the Scheme shall impose on a