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New Zealand law explained for everyone

Retail Payment System Act 2022

Preliminary provisions

6: Functions of Commission under this Act

You could also call this:

"The Commission's jobs are to monitor and fix problems with New Zealand's retail payment system."

Illustration for Retail Payment System Act 2022

The Commission has some jobs to do under this Act. You can think of the Commission like a group that helps make sure the retail payment system is working well. The Commission's jobs include monitoring how well the system is working and if there is fair competition. The Commission also looks into any issues with the retail payment system in New Zealand. They share reports and information about what they find out, and they work with other agencies to help keep the system safe.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS531131.

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5: Overview of this Act, or

"This Act helps keep payment systems fair for everyone in New Zealand."

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7: Interpretation, or

"What special words mean in the Retail Payment System Act"

Part 1Preliminary provisions

6Functions of Commission under this Act

  1. In addition to the other functions conferred on the Commission by this Act, the Commission’s functions in relation to the retail payment system are as follows:

  2. to monitor competition and efficiency in the retail payment system:
    1. to conduct inquiries, reviews, and studies into any matter relating to the retail payment system in New Zealand:
      1. to make available reports, summaries, and information about the things referred to in paragraphs (a) and (b):
        1. to co-operate with and assist other law enforcement or regulatory agencies that carry out a role in relation to the retail payment system.

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