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Exemption in respect of service for clearing of ticket transactions

Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014

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—(1) Any ticket payment service provider who has not been issued a ticket payment service licence shall be exempted from Part IVB of the Act if the total value of ticket transactions cleared by the ticket payment service provider at any time during any period of assessment does not exceed $300 million.(2) Where —(a)the total value of ticket transactions cleared by a ticket payment service provider during any period of assessment exceeds $300 million; and(b)the ticket payment service provider applies to the Council for a ticket payment service licence within one month from the last day of that period of assessment,the ticket payment service provider shall continue to be exempted from Part IVB of the Act from the trigger date until the date in which the ticket payment service provider is issued with a ticket payment service licence or on which the provider’s application is withdrawn or rejected.(3) The exemption under sub‑paragraph (1) shall not apply to any ticket payment service provider being an entity that has been formed as a result of a consolidation.

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