CTHIn ForceAct
Payment Systems (Regulation) Act 1998
18AAConflicts between standards
Start here
Get a plain-English read of 18AA
Turn the raw legal text into a practical explanation grounded in Payment Systems (Regulation) Act 1998.
#### 18AA Conflicts between standards
(1) This section applies if:
(a) a particular payment system is both a designated payment system and a special designated payment system; and
(b) the Reserve Bank has, under subsection 18(1), determined a standard (the normal standard) to be complied with by participants in the payment system; and
(c) a nominated special regulator has, under subsection 18(1A), determined a standard (the special standard) to be complied with by participants in the payment system; and
(d) the normal standard is, to any extent, inconsistent with the special standard.
(2) For the purposes of this Act, the normal standard does not apply to the extent that it is inconsistent with the special standard.