Commercial Passenger Vehicle Industry Act 2017
122Objective of the ESC
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122 Objective of the ESC
(1) The objective of the ESC in relation to the non-cash payment transaction industry is to promote efficiency by regulating the amount that may be imposed by way of a non-cash payment surcharge.
(2) In seeking to achieve the objective specified in subsection (1), the ESC must ensure that persons facilitating the making of non-cash payment transactions are able to recover the reasonable cost of accepting and processing such transactions.
(3) In this section—
reasonable cost includes any fees payable for the acquisition of transactions involving the use of debit, credit or charge cards.
S. 123 inserted by No. 63/2017 s. 18.