Select the provisions you wish to print using the checkboxes and then click the relevant "Print"

  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
  • HTML
  • PDF
  • Word