14Designation of entity by Reserve Bank

14 Designation of entity by Reserve Bank

(1) The Reserve Bank may, by legislative instrument, designate a body corporate under this section if:

(a) the body corporate is a constitutional corporation; and

(b) the body corporate carries on a business of providing cash distribution services in Australia; and

(c) the Reserve Bank considers that:

(i) the body corporate provides cash distribution services that support a significant part of the cash distribution system; or

(ii) a disruption to the body corporate’s operations would be likely to threaten continuity in the functioning of the cash distribution system; or

(iii) the body corporate otherwise has a significant role in the cash distribution system.

(2) To avoid doubt, paragraph (1)(c) may be satisfied even if the body corporate provides cash distribution services in one or more parts of Australia, rather than generally throughout Australia.

(3) In considering the matter mentioned in subparagraph (1)(c)(i), the Reserve Bank may have regard to:

(a) whether the body corporate is in a position to substantially influence a market for cash distribution services; or

(b) whether relevant facilities of the body corporate are of national or regional significance to the cash distribution system; or

(c) whether the body corporate provides cash distribution services that are important to the efficient functioning and operation of the cash distribution system; or

(d) any other matters the Reserve Bank considers relevant.