14Variation of access regime

#### 14 Variation of access regime (1) The Reserve Bank or a nominated special regulator in relation to a special designated payment system may, by legislative instrument, vary an access regime that it has imposed if the Reserve Bank or the nominated special regulator (as the case may be) considers it is appropriate to do so, having regard to: (a) in the case of an access regime imposed by the Reserve Bank under subsection 12(1)—whether the variation would be in the public interest; and (b) the interests of the current participants in the system; and (c) the interests of people who, in the future, may want access to the system; and (d) any other matters the Reserve Bank or the nominated special regulator (as the case may be) considers relevant. (5) If the Reserve Bank or the nominated special regulator varies the access regime it must, as soon as practicable, provide notification under section 29. (6) A failure to comply with subsection (5) does not affect the validity of a variation of the access regime. (7) A variation of the access regime takes effect on the day specified in the instrument, which must not be earlier than the day after the instrument is registered on the Federal Register of Legislation under the Legislation Act 2003.