40. Section 14 of Currency Act not to apply to stored value facilities

Terms defined in s 2

• stored value facility

  stored value facility

  Defined · s 2

  “stored value facility” means —(a)a facility (other than cash), whether in physical or electronic form, which is purchased or otherwise acquired by a person (referred to in this Act as the user) to be used as a means of making payment for goods or services up to the amount of the stored value that is available for use under the terms and conditions applying to the facility, and payment for the goods or services is made by the holder of the stored value in respect of the facility (rather than by the user); or(b)all the facilities referred to in paragraph (a) provided under the same terms and conditions;

  Open s 2