| Payment Systems (Oversight) Act |
(Chapter 222A, Section 33(2))
| Payment Systems (Oversight) (Exclusion of Single Purpose Stored Value Facilities) Order |
| O 2 |
| G.N. No. S 338/2006 |
| REVISED EDITION 2007 |
| (1st October 2007) |
| [23rd June 2006] |
| Citation |
| 1. This Order may be cited as the Payment Systems (Oversight) (Exclusion of Single Purpose Stored Value Facilities) Order. |
| Definition |
| 2. In this Order, unless the context otherwise requires, “single purpose stored value facility” means a stored value facility that is, or is intended to be, used for payment only of goods or services, or of both goods and services, provided by the holder of that stored value facility. |
| Exclusion of single purpose stored value facilities |
| 3. Single purpose stored value facilities are excluded from the computation of stored value for the purposes of section 33(1) of the Act. |