{"id":"F2014L01759","name":"Payment Systems (Regulation) Act 1998 - Revocation of the Access Regime for the Visa Debit Card System (December 2014)","slug":"payment-systems-regulation-act-1998-revocation-of-the-access-regime-for-the-visa-debit-card-system-d","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":92428,"registerId":"commonwealth-F2014L01759-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Payment Systems (Regulation) Act 1998 - Revocation of the Access Regime for the Visa Debit Card System (December 2014)","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n## C:\\Users\\chani\\Desktop\\rba-logo-horizontal-black.png\n\n## Payment Systems (Regulation) Act 1998\n\nRevocation of the Access Regime for the Visa Debit System\n\nPursuant to subsection 15(3) of the Payment Systems (Regulation) Act 1998 (the ‘Act’), the Reserve Bank of Australia revokes the Access Regime for the Visa Debit System, originally gazetted on 22 August 2005 (the ‘Access Regime’), as the Reserve Bank of Australia considers it appropriate to do so having regard to the matters set out in subsection 15(3) of the Act.\n\nIn accordance with paragraph 15(7)(b) of the Act, the revocation of the Access Regime will take effect on 1 January 2015.\n\nSigned\n\n \n\n \n\nGlenn Stevens  Governor  Reserve Bank of Australia\n\n15 December 2014\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1991},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The instrument precisely targets the revocation of a specific existing regime without expanding into new policy areas or creating new regulatory obligations. It narrows rather than expands regulatory scope."},"complexity_factors":["Single operative provision (simple revocation)","No defined terms within the instrument itself","No conditional logic, exceptions, or nested provisions","Extremely short, single-purpose administrative instrument"],"plain_english_summary":"**What this does:** This instrument removes (revokes) the mandatory access rules that the Reserve Bank of Australia previously imposed on the Visa Debit card system in 2005.\n\n**Who it affects:** Financial institutions that participate in, or want to join, the Visa Debit payment network.\n\n**What it means:** Before this change, the Visa Debit system operated under a special \"Access Regime\" — legally binding rules that dictated which banks could access the network and on what commercial terms. From 1 January 2015, those specific Reserve Bank rules no longer apply.\n\n**Why it matters:** This is a deregulatory change. Instead of operating under government-mandated access requirements, the Visa Debit system will now operate under standard commercial contracts and general competition law. This gives the network operators and member banks more flexibility to negotiate their own terms, while removing a layer of regulatory oversight."}},"importantCases":[],"_links":{"self":"/api/acts/payment-systems-regulation-act-1998-revocation-of-the-access-regime-for-the-visa-debit-card-system-d","history":"/api/acts/payment-systems-regulation-act-1998-revocation-of-the-access-regime-for-the-visa-debit-card-system-d/history","analysis":"/api/acts/payment-systems-regulation-act-1998-revocation-of-the-access-regime-for-the-visa-debit-card-system-d/analysis","conflicts":"/api/acts/payment-systems-regulation-act-1998-revocation-of-the-access-regime-for-the-visa-debit-card-system-d/conflicts","importantCases":"/api/acts/payment-systems-regulation-act-1998-revocation-of-the-access-regime-for-the-visa-debit-card-system-d/important-cases","documents":"/api/acts/payment-systems-regulation-act-1998-revocation-of-the-access-regime-for-the-visa-debit-card-system-d/documents"}}