Singapore legislation
Clause 26
of Payment and Settlement Systems (Finality and Netting) (Amendment) Bill
Clause 26
Saving and transitional provisions
(1)
Where, immediately before the date of commencement of section 3, any system is designated, by an order under section 3(1) of the principal Act as in force immediately before that date, to be a designated system for the purposes of the principal Act, that system continues, on and after that date, to be a designated system for the purposes of the principal Act, until that order is revoked.
(2)
For a period of 2 years after the date of commencement of any provision of this Act, the Minister may, by regulations, prescribe such additional provisions of a saving or transitional nature consequent on the enactment of that provision as the Minister may consider necessary or expedient.