4Definitions

4 Definitions

Note: Some expressions used in this instrument are defined in the Act.

(1) In this instrument, unless the contrary intention appears: Act means the Competition and Consumer Act 2010. associate has the meaning given by section 318 of the Income Tax Assessment Act 1936. Australian law has the meaning given by subsection 6(1) of the Privacy Act 1988. authorised deposit‑taking institution has the meaning given by subsection 5(1) of the Banking Act 1959. (2) In this instrument, product means: (a) a good or service that is or has been offered or supplied to a person in connection with one or more of the following activities: (i) taking money on deposit (otherwise than as part-payment for identified goods or services); (ii) making advances of money; (iia) letting goods on hire, including on hire-purchase; (iii) another financial activity prescribed for the purposes of subparagraph (b)(ii) of the definition of banking business in subsection 5(1) of the Banking Act 1959; or (b) a purchased payment facility that is or has been offered or supplied to a person. (3) In this instrument, purchased payment facility means a facility (other than cash) in relation to which the following conditions are satisfied: (a) the facility is purchased by a person from another person; and (b) the facility is able to be used as a means of making payments up to the amount that, from time to time, is available for use under the conditions applying to the facility; and (c) those payments are to be made by the provider of the facility or by a person acting under an arrangement with the provider (rather than by the user of the facility).

(4) In subsection (3):

(a) a reference to a facility includes a reference to a right to use a facility; and
(b) a reference to the purchase of a facility includes a reference to the payment of an amount for a right to use a facility.