Payment and Settlement Systems (Finality and Netting) Act(CHAPTER 231)
Table of Contents
Long Title
Part I PRELIMINARY
1 Short title
2 Interpretation
3 Designation of system
4 Revocation of designation
5 Application of this Act
Part II TRANSACTIONS EFFECTED THROUGH DESIGNATED SYSTEM
6 Modifications of law of insolvency
7 Transactions under rules of designated system are final and irrevocable
8 Proceedings of designated system shall take precedence over law of insolvency
9 Disclaimer of property, restriction on dispositions of property, etc.
10 Adjustment of prior transactions
11 Net sum payable on completion of action taken under default arrangements
12 Transfer orders entered into designated system after insolvency
Part III NETTING
13 Netting
Part IV MISCELLANEOUS
14 Law of insolvency in other jurisdictions
15 Preservation of rights, etc.
16 Obligation to notify operator of designated system of insolvency
17 Composition of offences
18 Jurisdiction of District Court
19 (Repealed)
20 Power to make regulations
21 Settlement system deemed to be designated system under this Act
22 Consequential amendments to other written laws
23 Transitional provisions
Legislative History
Comparative Table