The Australian Securities and Investments Commission (ASIC) has released a new policy on the regulation of non-cash payment (NCP) facilities under the Corporations Act.
ASIC’s policy on the regulation of NCP facilities is set out in Policy Statement 185 Non-cash payment facilities [PS 185].
The policy statement also describes the class order relief ASIC has granted to:
- low value NCP facilities [CO 05/736];
- gift vouchers or cards [CO 05/738];
- prepaid mobile phone accounts [CO 05/740];
- loyalty schemes [CO 05/737]; and
- electronic road toll devices [CO 05/739].
