The Principal Act is amended by inserting the following after section 891C (inserted by section 121):

"891D.

(1) In this section -

'authorised officer' means an officer of the Revenue Commissioners authorised by them in writing to exercise the powers conferred by this section;

'central organisation' has the meaning assigned in the definition of 'electronic payment network';

'electronic network transaction' means any transaction which is settled through an electronic payment network;

'electronic payment facilitator' means any person, other than a payment settlement entity, acting on behalf of a payment settlement entity who submits instructions to transfer funds to the account of the merchant to settle the reportable payment transaction;

'electronic payment network' means any agreement or arrangement -

(a) which involves the establishment of accounts with a body (in this section referred to as a 'central organisation') by persons who -

(i) are unrelated to the central organisation,

(ii) provide goods or services, and

(iii) have agreed to settle transactions for the provision of such goods or services pursuant to such agreement or arrangement,

(b) which provides for standards and mechanisms for settling such transactions, and