EXPLANATORY STATEMENT

Migration Regulations 1994

CIRCUMSTANCES IN WHICH A CREDIT CARD SURCHARGE IS WAIVED OR REFUNDED

(Regulation 5.41A)

1. This Instrument is made under regulation 5.41A of the Migration Regulations 1994 (‘the Regulations’).
2. The purpose of the Instrument is to specify that for clients paying in local currency using a credit card in Singapore and New Zealand the credit card surcharge must be waived or refunded.
3. The Instrument operates to specify that clients paying in local currency using a credit card in Singapore or New Zealand must have any credit card surcharge waived or refunded. Local financial laws do not allow for the application of a credit card surcharge for payments of this type.

4. The Instrument has been updated to reflect a correction in the provisions of the Regulations under which the instrument is made.

5. Under subsection 18(1) of the Legislative Instruments Act 2003 consultation was not necessary.  The Instrument is of a minor or machinery nature and does not substantially alter existing arrangements.

6. Consultation was undertaken before the Instrument was made with the Department of Foreign Affairs and Trade, the Department of Finance, the Migration Institute of Australia and the Law Council of Australia.

7. The Office of Best Practice Regulation has advised that a Regulatory Impact Statement is not required (OBPR Reference 16812).

8.  Under subsection 44(2) item 26 of the Legislative Instruments Act 2003 the Instrument is exempt from disallowance and therefore a Human Rights Statement of Compatibility is not required.

9. The Instrument commences on 1 July 2014, immediately after the commencement of Migration Amendment (Credit Card Surcharge Additional Measures) Regulation 2014.