Document ID: chunk:federal_register_of_legislation:F2012C00623:body:0:p2
Version: federal_register_of_legislation:F2012C00623
Segment Type: other
Provision Reference: 
Character Range: 2664–5872

ATM Access Code;

         'Connection Charge' means the charge payable by an Access Seeker to an Access Provider under a Connection Agreement as described in Clause 3 of Schedule 3 of the ATM Access Code;

         'Direct Clearing/Settlement Service' has the same meaning as in the ATM Access Code;

         'Direct Connection Service' has the same meaning as in the ATM Access Code;

         'Direct Connector' means a participant that exchanges ATM transaction messages, and clears and settles ATM transactions using two or more direct connections;

         an 'interchange fee' is a wholesale fee which is payable by an ATM Issuer to an ATM Acquirer when a cardholder of the ATM Issuer undertakes an ATM transaction that is acquired by the ATM Acquirer;

         a 'one-way arrangement' is an access arrangement whereby an ATM Issuer pays an interchange fee to an ATM Acquirer for use of an ATM by a cardholder, but that same ATM Acquirer does not pay an interchange fee to access any ATMs of the ATM Issuer in the arrangement;

         terms defined in the Payment Systems (Regulation) Act 1998 have the same meaning in this Access Regime.

         4.                                          Each participant in the ATM System must do all things necessary on its part to ensure compliance with this Access Regime.

         5.                                          If any part of this Access Regime is invalid, it is ineffective only to the extent of such part without invalidating the remaining parts of this Access Regime.

         6.                                          This Access Regime is to be interpreted:

              * in accordance with its objective; and

              * by looking beyond form to substance.

         7.                                          This Access Regime originally came into force on 3 March 2009. This Access Regime as amended comes into force on 29 August 2012.

Price of access

Connection Charge for providing the Direct Connection Service

         8.                                          The Connection Charge levied by an Access Provider for providing the Direct Connection Service to an Access Seeker must not exceed the Direct Connection Cap, calculated in accordance with paragraph 9 below, applying on the date the Connection Agreement is entered into.

         9.                                          From 3 March 2009, the Direct Connection Cap for the Connection Charge in the ATM system is the lowest estimated cost for providing a Direct Connection Service as measured in APCA's 2008 costs survey. This cost is $76 700 (excluding GST).

Connection Charge for providing the Direct Clearing/Settlement Service

         10.                                      From 3 March 2009, no charge may be levied between participants in the ATM system for providing the Direct Clearing/Settlement Service.

Interchange fees

         11.                                      From 3 March 2009, no interchange fee shall be paid between participants in the ATM system in relation to any ATM transaction, unless the interchange fee is being paid by:

            (i)            a participant with a one-way arrangement to access one,