| Payment and Settlement Systems (Finality and Netting) Act |
(Chapter 231, Section 3)
| Payment and Settlement Systems (Finality and Netting) (Designated System) Order |
| O 1 |
| G.N. No. S 620/2002 |
| REVISED EDITION 2004 |
| (29th February 2004) |
| [9th December 2002] |
| Citation |
| 1. This Order may be cited as the Payment and Settlement Systems (Finality and Netting) (Designated System) Order. |
| Designation of system |
| 2. The CLS System being a system for settling payment obligations and entitlements arising from foreign exchange transactions and operated by CLS Bank International shall be a designated system for the purposes of the Act. |
| Terms and conditions of designation |
3. The designation referred to in paragraph 2 is subject to the following terms and conditions:
|