CP 59 Non-cash payment facilities
Released 22 December 2004. Comments closed 25 February 2005.
The financial services reform amendments to the Corporations Act 2001 (Corporations Act) added a new kind of product to be regulated as a financial product, namely, a non-cash payment (NCP) facility.
This policy proposal paper sets out our approach to regulating NCP facilities under the Corporations Act. It discusses:
- what class order relief we are considering from the licensing and disclosure obligations of the Corporations Act for specific types of NCP facilities, and the conditions we propose on that relief (Section A); and
- how the Corporations Act applies to NCP facilities that are not covered by our proposed relief (Section B).