| Superannuation clearing houses and electronic payment facilities
A non-cash payment (NCP) facility is a facility through which a person (the client) can make a payment, or cause a payment to be made, otherwise than through the physical delivery of Australian or foreign currency: see s763D. As part of the regulatory regime, persons providing financial services in relation to NCP facilities are subject to the licensing, conduct and disclosure provisions of the Corporations Act.
The Corporations Act and Corporations Regulations 2001 exclude certain payment facilities from being financial products, and certain providers from providing a financial service. Our policy statement In November 2005, ASIC published its policy on how it would regulate NCP facilities under the Corporations Act: see Policy Statement 185 Non-cash payment facilities [PS 185] and Information Release [IR 05-60] ASIC adopts a flexible approach to the regulation of non-cash payment facilities.
Green Spot: Interface, Inc. -- Zero Sum Game For Good
This time, he designs it to use 93% less horsepower (1/14 as much!). This time, he specifies big pipes and small motors to pump the viscous material, rather than small pipes and big motors. He arranges to install the big, straight, short pipes first, and then install the production line thereafter; rather than installing the production line first and bending pipes here and there to fit them to the line. He has largely defeated the pump's enemy, friction. He now knows that friction varies inversely with the 5th power of pipe diameter, and every bend in a pipe further increases friction and decreases efficiency, as does distance (i.e., pipe length). Doesn't every engineer learn these things in school? Apparently not; this is "new thinking". And, the entire production line costs less to build than its counterpart built 10 years before, and less to operate.
Upcoming events
HASTINGS Jan. 17: Residents of the Hastings area are invited to an open house on corridor alternatives for roads in and around northeastern Dakota County, an area that expects to see a significant rise in population in the next two decades. County officials will be on hand to answer questions and take comments. The open house will be from 4 to 6:30 p.m. at Hastings City Hall, 101 E. 4th St., in the Community Room. .
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