Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Under this Part, the Reserve Bank is given the power to designate payment systems (see Division 2).
(2) The Reserve Bank has the following powers in relation to a designated payment system:
(a) it may impose an access regime on the participants in the payment system (see Division 3); and
(b) it may make standards to be complied with by participants in the payment system (see Division 4); and
(c) it may arbitrate disputes relating to the payment system (see Division 5); and
(d) it may give directions to participants in the payment system (see Division 6).
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