The Australian Competition and Consumer Commission (ACCC) has reauthorised regulations governing the operation of APCA’s Consumer Electronic Clearing System (CECS). The regulations represent an arrangement amongst competing payment service providers for the efficient clearing and settlement of ATM and EFTPOS transactions. Authorisation recognises that this arrangement has net public benefit, and protects against any risk that the rules breach pro-competition provisions of the Trade Practices Act 1974.
The CECS Regulations and Manual were first authorised by the ACCC in 2000. With authorisation expiring in November 2009, APCA re-assessed the trade practices implications and decided to seek reauthorisation only for provisions relating to the certification of CECS participants and suspension and termination of CECS membership.
In issuing its final determination, the ACCC said that the certification, suspension and termination provisions promote the efficient operation and enhanced security and integrity of CECS. Furthermore, it found that refusal of CECS membership does not preclude an organisation from participating in ATM or EFTPOS system as it can enter into an agreement with a CECS member to process, clear and settle transactions on its behalf.
The ACCC has granted reauthorisation for five years from 6 January 2010.
Click here for the ACCC’s determination.