Singapore legislation
Clause 3
of Payment and Settlement Systems (Finality and Netting) Bill
Clause 3
Designation of system
(1)
The Authority may, by order published in the Gazette, designate a system to be a designated system for the purposes of this Act, subject to such terms and conditions as may be prescribed in the order.
(2)
Any order made under subsection (1) shall specify the operator of the designated system.