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Payment Systems (Regulation) Act 1998 Part 5—Miscellaneous 26 Persons to give Reserve Bank information (1) The Reserve Bank may require a participant in a payment system (whether or not it is a designated payment system) to give the Reserve Bank information relating to the payment system and its participants. (2) The Reserve Bank may require a corporation that is authorised under section 23, or that is exempted under section 25, to give the Reserve Bank information relating to purchased payment facilities of the class to which the authority or exemption relates. (3) A corporation (including a participant in a payment system) commits an offence if it refuses or fails to comply with a requirement under this section. Penalty: 200 penalty units. Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility. Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above. Note 3: The secrecy requirements of Part 6 of the Reserve Bank Act 1959 apply to information provided under this section. (4) If a refusal or failure to comply with a requirement under this section occurs in circumstances that give rise to a corporation (including a participant in a payment system) committing an offence against subsection (3), the corporation commits an offence against that subsection in respect of: (a) the day on which the refusal or failure occurs; and (b) each subsequent day (if any) until the requirement is complied with (including the day of conviction for any such offence or any later day). Authorised Version C2016C00591 registered 08/06/2016 |
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