Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) (Amendment) Order 2018

Status:

Published in Subsidiary Legislation Supplement
on 05 Jun 2018

No. S 373

Payment and Settlement Systems
(Finality and Netting) Act

(CHAPTER 231)

Payment and Settlement Systems
(Finality and Netting) (Designated System)
(New MAS Electronic Payment
and Book-Entry 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) (New MAS Electronic Payment and Book‑Entry 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 2006 (G.N. No. S 652/2006) is amended by inserting, immediately after the words “(Designated System)”, the words “(New MAS Electronic Payment and Book‑Entry System)”.

Amendment of paragraph 2

3. Paragraph 2 of the Payment and Settlement Systems (Finality and Netting) (Designated System) Order 2006 is amended by inserting, immediately after sub‑paragraph (1), the following sub‑paragraph:

“(1A) The settlement institution of the New MAS Electronic Payment and Book‑Entry System is the Authority.”.

[G.N. No. S 390/2012]

Made on 18 May 2018.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[MAS/FTIG/LEGIS/FNA/2018/01; AG/LEGIS/SL/231/2015/1 Vol. 1]

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