Banking (prudential standard) determinatBanking (prudential standard) determination No. 3 of 2023

Commonwealth Coat of Arms

Banking (prudential standard) determination No. 3 of 2023

Prudential Standard APS 610 Prudential Requirements for Providers of Purchased Payment Facilities

Banking Act 1959

I, Clare Gibney, a delegate of APRA:

(a) under subsection 11AF(3) of the Banking Act 1959 (the Act) REVOKE Banking (prudential standard) determination No. 6 of 2014, including Prudential Standard APS 610 Prudential Requirements for Providers of Purchased Payment Facilities made under that determination; and

(b) under subsection 11AF(1) of the Act DETERMINE Prudential Standard APS 610 Prudential Requirements for Providers of Purchased Payment Facilities, in the form set out in the schedule, which applies to ADIs that are purchased payment facility providers.

This instrument commences upon registration on the Federal Register of Legislation.

Dated: 11 May 2023

Clare Gibney

Executive Director

Policy and Advice Division

Interpretation

In this instrument:

APRA means the Australian Prudential Regulation Authority.

ADI has the meaning given in subsection 5(1) of the Act.

purchased payment facility has the meaning given in section 7 of the Payment Systems (Regulation) Act 1998.

Schedule

Prudential Standard APS 610 Prudential Requirements for Providers of Purchased Payment Facilities comprises the document commencing on the following page.