Singapore legislation
Clause 17
Clause 17
Cessation and revocation of access regime
(1)
An access regime in respect of a designated payment system shall cease to be in force if —
the order imposing or varying the access regime under section 15(1) or 16(1), as the case may be, provides for an expiry date and that date is reached;
the Authority revokes the access regime under subsection (2); or
the payment system concerned ceases to exist or operate, or ceases to be a designated payment system.
(2)
The Authority may, by order published in the Gazette, revoke an access regime if the Authority considers it appropriate to do so.
(3)
In considering whether to revoke an access regime under subsection (2), the Authority shall have regard to the following:
whether the revocation of the access regime would be in the interests of the public;
the interests of the current participants, operator and settlement institution of the designated payment system; (c)the interests of persons who, in the future, may require or desire access to the designated payment system; and
such other matters as the Authority may consider to be relevant.