Document ID: chunk:federal_register_of_legislation:F2022C00002:body:0:p6
Version: federal_register_of_legislation:F2022C00002
Segment Type: other
Provision Reference: 
Character Range: 12821–15538

consistent with the objective of this Standard; and

          (ii) the Fair Value may be adjusted to a Revised Value no more than once in a Reporting Period;

    Incentive Test: a Benefit meets the Incentive Test in relation to a Scheme Pair if it is given for a purpose of, or has or will likely have the effect of, any one or more of the following:

       (a) incentivising the entry into of a contract relating to the issue of Cards of any Scheme in the Scheme Pair;

       (b) promoting or incentivising the issuance or use of Cards of any Scheme in the Scheme Pair; or

       (c) providing or funding incentives to holders of Cards of any Scheme in the Scheme Pair to use those cards.

    Benefits that meet the Incentive Test in relation to a Scheme Pair include lump-sum, volume based and transaction-specific Benefits such as:

          (i) incentives to market Cards of any Scheme in the Scheme Pair; and

          (ii) any of the following earned, accrued or receivable by a Direct Issuer Participant for agreeing to issue Cards of any Scheme in the Scheme Pair or for Card Transactions undertaken in any Scheme in the Scheme Pair meeting or exceeding a specific transaction volume, percentage share or dollar amount of transactions processed:

          (A) a rebate on any fees or other costs or charges, whether for a Core Service or for any other product or service;

          (B) a discount from the Regular Price of any Property or service, whether the Property or service is related to Cards of any Scheme in the Scheme Pair or not;

    Indirect Issuer Participant means, in relation to a Scheme, a participant in that Scheme in Australia as an Issuer that participates in the Scheme in Australia as Issuer through the Sponsorship of another participant in that Scheme. Without limitation, for:

       (a) Debit MasterCard and MasterCard Prepaid this means any Affiliate Customer as defined in the Rules of the Scheme in its capacity as Issuer; or

       (b) VISA Debit and Visa Prepaid this means any Participant-Type Member or Associate-Type Member, each as defined in the Rules of the Scheme, in its capacity as Issuer; or

       (c) EFTPOS System and EFTPOS Prepaid this means any eftpos Issuer that is an Indirect Settler, with each of those expressions having the meaning given in the Rules of the Scheme;

    Initial Reporting Period means, in relation to a New Issuer, the period commencing on the first date on which any Direct Issuer Participant Payments or Direct Issuer Participant Receipts were paid, became payable, were earned or accrued, or became receivable by or to the New Issuer (as applicable) and ending on the last day of the first full Reporting Period following