Commonwealth Consolidated Acts

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PAYMENT SYSTEMS AND NETTING ACT 1998 - SECT 8

Application for approval of payment system

             (1)  A person may apply to the Reserve Bank for approval of a payment or settlement system.

             (2)  The application must:

                     (a)  be in the prescribed form; and

                     (b)  be accompanied by the documents:

                              (i)  specified in the regulations; or

                             (ii)  required by the Reserve Bank.


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