A Variation to the Access Regime for the ATM System: Conclusions – August 2012 3. The Variation to the Access Regime

The Bank published a draft variation to the Access Regime for consultation on 29 May 2012 and has decided to proceed with a variation that is substantially the same.^[3] The variation in the Attachment extends the Bank's exemption power in paragraph 16 (renumbered from paragraph 17 in the draft variation to the Access Regime) in order for it to permit a participant to be both a payer and receiver of interchange fees under one-way arrangements. That is, the Bank will have the power to grant an exemption from the requirements of paragraph 12 in addition to those of paragraph 11 (renumbered from paragraphs 13 and 12, respectively, in the draft variation to the Access Regime). The Access Regime continues to set out the factors the Bank will have regard to in deciding whether an exemption is appropriate – the public interest, the interests of current and potential future participants in the system, and any other matters that the Bank considers relevant. That is, the Bank would be required to consider the same matters under the expanded exemption power as for its exemption power under the current Access Regime.

Footnote

Reserve Bank of Australia (2012), A Variation to the Access Regime for the ATM System: Consultation Document, May. Available at <https://www.rba.gov.au/publications/consultations/201205-acc-reg-atm-sys-cons-doc/>. [*]