PSR is pleased that the High Court has dismissed an application by NoteMachine for judicial review of PSR’s decision not to intervene in a dispute concerning concerns NoteMachine had over the fees it received for providing customers with access to ATM services. PSR said it was not appropriate for it to intervene nor raise the LINK interchange rate paid to NoteMachine. NoteMachine had alleged PSR had misapplied statutory provisions, had erred in law on its interpretation of the term “discrimination”, had erred in its approach to the primacy duty set out in the Financial Services (Banking Reform) Act, and had erred in law and in fact in failing to appreciate that the Competition Act applies equally to MIF that are set too low.
Judicial review on ATM rate provision dismissed
