No. S 372
Payment and Settlement Systems
(Finality and Netting) Act
(CHAPTER 231)
Payment and Settlement Systems
(Finality and Netting) (Designated System)
(CLS System) (Amendment) Order 2018
In exercise of the powers conferred by section 3 of the Payment and Settlement Systems (Finality and Netting) Act, the Monetary Authority of Singapore makes the following Order:
Citation and commencement
1.  This Order is the Payment and Settlement Systems (Finality and Netting) (Designated System) (CLS System) (Amendment) Order 2018 and comes into operation on 6 June 2018.
Amendment of paragraph 1
2.  Paragraph 1 of the Payment and Settlement Systems (Finality and Netting) (Designated System) Order (O 1) is amended by inserting, immediately after the words “(Designated System)”, the words “(CLS System)”.
Amendment of paragraph 2
3.  The Payment and Settlement Systems (Finality and Netting) (Designated System) Order is amended by renumbering paragraph 2 as sub‑paragraph (1) of that paragraph, and by inserting immediately thereafter the following sub‑paragraph:
(2)  The settlement institution of the CLS System is CLS Bank International.”.
[G.N. No. S 558/2007]
Made on 18 May 2018.
RAVI MENON
Managing Director,
Monetary Authority of Singapore.
[MAS/FTIG/LEGIS/FNA/2018/01; AG/LEGIS/SL/231/2015/2 Vol. 1]