Payment and Settlement Systems (Finality and Netting) Act 2002(No. 39 of 2002)
Table of Contents
Long Title
Enacting Formula
Part I PRELIMINARY
1 Short title and commencement
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 designated system of insolvency
17 Immunity of Authority and its employees, etc.
18 Power to make regulations
19 Settlement system deemed to be designated system under this Act
20 Related and consequential amendments
21 Consequential amendments to other written laws
22 Transitional provisions