AI Summary of 2. Interpretation
The document outlines the definitions and meanings of various terms relevant to cash access and financial services regulation in Ireland. Key terms include 'ATM' referring to an automated teller machine, 'cash demand' denoting the total value of cash withdrawal transactions, and 'cash infrastructure' which encompasses ATMs and cash service points. It specifies roles such as 'ATM operator' and 'ATM deployer', highlighting their responsibilities in providing cash withdrawal services.
Further definitions include 'current account', 'credit institution', and 'financial inclusion', which emphasises the necessity for accessible financial services. The document references relevant legislation such as the Central Bank Act 1942 and the Private Security Services Act 2004, while also providing guidance on the operational requirements of cash services, including timeframes for transactions and regulatory compliance for entities involved in cash handling.
2. Interpretation
In this Act -
"access to cash criteria" has the meaning given to it by section 5;
"Act of 1942" means the Central Bank Act 1942;
"Act of 2004" means the Private Security Services Act 2004;
"ATM" means an automated teller machine;
"ATM deployer" means a person who -(a) provides cash withdrawal services from one or more than one ATM that is operated by the person and by whom, or on whose behalf, the ATM or ATMs are stocked with banknotes,(b) does not hold payment accounts, and(c) does not provide a payment service referred to in paragraph 1, 3, 4, 5, 6, 7 or 8 of the Schedule to the Regulations of 2018;