Retail Payment System Act 2022

Designated networks - Designations

15: Duration of designation

You could also call this:

"How long a designation order lasts"

Illustration for Retail Payment System Act 2022

You have a designation order that lasts until it expires or is revoked or replaced. The expiry date is the date the order stops being in force. The expiry date must be no more than 10 years after the order starts. If a network is no longer a designated network, any rules that apply to it will stop applying. This happens in two ways: the rules either expire or they stop applying to the network. The rules stop applying if they are for that network only, or for other networks as well. A designation order must say when it will expire. This means you know when the order will stop being in force. The order can be revoked or replaced before it expires.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS528145.

This page was last updated on 25 December 2025 — View changes

Topics:

Environment and resources > Town planningBusiness > Industry rules

14: Content of designation, or

"What's in the designation of a payment network"

16: Amendment and revocation of designation, or

"Changing or cancelling a retail payment system designation"

Part 2Designated networks
Designations

15Duration of designation

A designation order continues in force until the date on which the order expires (the expiry date) or is revoked or replaced, whichever occurs first.
A designation order must state its expiry date, which must be no later than 10 years after the date on which the order commences.
If a network ceases to be a designated network, any network standard or direction that applies to the network—
expires if the standard or direction applies only to that network; or
ceases to apply to the network in any other case.