35Requirement to apply for approval of standard terms

35 Requirement to apply for approval of standard terms

Designated entity must apply for approval of standard terms

(1) A designated entity must apply to the ACCC for approval of standard terms for cash distribution services or facilities access, regardless of whether the entity has previously made such an application, if:

(a) the entity provides, or offers to provide, cash distribution services or facilities access; and

(b) the entity does not have approved standard terms covering the cash distribution services or facilities access; and

(c) the entity:

(i) does not have a pending approval application for such standard terms; and

(ii) does not have such standard terms for which an approval is yet to take effect (see paragraph 42(2)(c)); and

(d) if the ACCC notified the entity under paragraph 43(5)(a) that the ACCC is proposing to make a determination of standard terms that would cover the cash distribution services or facilities access:

(i) the ACCC has notified the entity under paragraph 43(6)(b) that the ACCC does not intend to proceed with making the determination; or

(ii) the period within which the determination may be made under subsection 43(8) has expired; and

(e) the cash distribution services or facilities access is not of a kind specified under subsection (2) of this section.

(2) For the purposes of paragraph (1)(e), the ACCC may, by legislative instrument, make a determination specifying:

(a) a kind of cash distribution services; or

(b) a kind of facilities access.

Timing for application

(3) The entity must make the application before the end of 30 business days after the entity becomes required to apply under subsection (1).

(4) On written application by the entity made before the end of the period mentioned in subsection (3), the ACCC may, in writing, extend that period if the ACCC is satisfied it is appropriate to do so.

(5) The period may be extended more than once.

Civil penalty

(6) A designated entity is liable to a civil penalty if:

(a) the entity is required to apply to the ACCC under subsection (1); and

(b) the entity fails to do so within the period required by subsection (3) (as affected by any extension under subsection (4)).

Note 1: An individual may be liable for an ancillary contravention of this civil penalty provision (see section 92 of the Regulatory Powers Act).

Note 2: This subsection is a continuing civil penalty provision under section 93 of the Regulatory Powers Act.

Civil penalty: