Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:19_44
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 19 cl 44
Character Range: 243682–244343

44  Certain corporations are taken to have been granted authorities under section 23
A corporation that, on the commencement of the Payment Systems (Regulation) Act 1998:
 (a) is the holder of the stored value of purchased payment facilities in a class of purchased payment facilities, within the meaning of that Act; and
 (b) is not an authorised deposit‑taking institution, within the meaning of the Banking Act 1959;
is taken, on that commencement, to have been granted an authority under section 23 of the Payment Systems (Regulation) Act 1998 in relation to that class of purchased payment facilities.

Part 6—Transitional provisions relating to levies