Singapore legislation
Clause 4
of Payment and Settlement Systems (Finality and Netting) (Amendment) Bill
Clause 4
Amendment of section 4
Section 4 of the principal Act is amended —
(a)
by inserting the word “or” at the end of subsection (1)(a)(iv);
(b)
by deleting the word “or” at the end of subsection (1)(a)(v);
(c)
by deleting sub‑paragraph (vi) of subsection (1)(a);
(d)
by inserting, immediately after paragraph (a) of subsection (1), the following paragraph:“(aa)the Authority is no longer satisfied that a disruption in the operations of the system may have any effect mentioned in section 3(1)(a), (b) or (c); or”; and
(e)
by deleting the words “section 5” in subsection (4) and substituting the words “section 5(1)”.