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Retail Payment System Act 2022

Designated networks - Rules of designated networks

26: Process for giving directions

You could also call this:

"How the Commission Makes and Shares New Rules"

Illustration for Retail Payment System Act 2022

You need to know what happens when the Commission wants to give a direction about network rules. The Commission must make the proposed direction public and consult with people who will be affected. They must also share their reasons for giving the direction. When the Commission gives a direction, they must make it public along with their reasons. This way, you can see what the direction is and why it was given. The Commission must be open about their decisions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS528157.

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25: Criteria for giving directions, or

"What the Commission considers when giving directions about payment network rules"

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"Paying a penalty for not following the rules"

Part 2Designated networks
Rules of designated networks

26Process for giving directions

  1. Before giving a direction that relates to setting or amending network rules (the proposed direction), the Commission must—

  2. make the proposed direction publicly available; and
    1. consult affected persons, or persons that the Commission considers to be representatives of affected persons, about the proposed direction (including the Commission’s reasons for giving the proposed direction).

      1. After giving a direction, the Commission must make the direction, and the Commission’s reasons for giving the proposed direction, publicly available.