Singapore legislation
Section 20B
of Payment and Settlement Systems (Finality and Netting) Act 2002
Section 20B
Exemption
(1)
The Authority may, by regulations made under section 20, exempt any person or class of persons from all or any of the provisions of this Act, subject to any conditions that may be prescribed in those regulations.
(2)
The Authority may, on the application of any person, and if the Authority considers it appropriate to do so in the circumstances of the case, by written notice exempt that person, subject to any conditions that the Authority may specify by written notice, from —
all or any of the provisions of this Act; and
any requirement that —
is imposed by the Authority under this Act; or
is specified in any written direction issued under section 20A(1).
(3)
The Authority may at any time, by written notice —
revoke any exemption granted under subsection (2); or
add to, vary or revoke any condition of such an exemption imposed under subsection (2) or this paragraph.
(4)
An exemption granted under subsection (2), and every other written notice under this section, need not be published in the Gazette.