Singapore legislation
Section 10
Section 10
Withdrawal of designation of payment system
(1)
The Authority may, by order published in the Gazette, withdraw the designation of any designated payment system at any time if the Authority is of the opinion that the considerations in section 7(1) are no longer valid or satisfied.
(2)
The Authority shall not on its own initiative withdraw the designation of any designated payment system without giving the operator and the settlement institution an opportunity to be heard.[SF Act, s. 58]