Singapore legislation
Section 5
of Payment and Settlement Systems (Finality and Netting) Act 2002
Section 5
Application of this Act
Amended by4/20184/2018
(1)
This Act applies to all transactions cleared or settled in a designated system, subject to any restrictions that the Authority may by order in the Gazette prescribe.
Amended by4/2018
(2)
Despite subsection (1), the Authority is exempt from complying with any requirement imposed on a participant, an operator, a settlement institution or a collateral holder of a designated system by section 15A, 15B, 16, 19A or 20A, when the Authority acts in the capacity of a participant, an operator, a settlement institution or a collateral holder of a designated system.
Amended by4/2018