PAYMENT SYSTEMS (REGULATION) ACT 1998 - SECT 8 Meaning of public interest

PAYMENT SYSTEMS (REGULATION) ACT 1998 - SECT 8

    In determining, for the purposes of this Act, if particular action is or would be in, or contrary to, the public interest, the Reserve Bank is to have regard to the desirability of payment systems:

  (a)   being (in its opinion):

  (i)   financially safe for use by participants; and

  (ii)   efficient; and

  (iii)   competitive; and

  (b)   not (in its opinion) materially causing or contributing to increased risk to the financial system.

The Reserve Bank may have regard to other matters that it considers are relevant, but is not required to do so.