FUNCTIONS AND POWERS OF AUTHORITY
4. The Authority shall —
exercise oversight functions in respect of payment systems and stored value facilities under this Act; and
have power to do all such acts, matters and things as are necessary to be carried out by the Authority under this Act.
5. In exercising its powers in relation to payment systems under this Act, the Authority shall have regard to the interests of the public, and in this respect, the Authority may take into consideration —
whether any payment system is, in the opinion of the Authority —
financially safe for use by participants;
not materially causing or contributing to increased risk to the financial system; and
such other matters as the Authority may consider to be relevant.
[Aust Payment Systems Act 1998, s. 8]