Singapore legislation
Clause 9
of Payment and Settlement Systems (Finality and Netting) (Amendment) Bill
Clause 9
Amendment of section 8
Section 8 of the principal Act is amended —
(a)
by inserting the word “or” at the end of subsection (1)(b);
(b)
by deleting paragraphs (c) and (d) of subsection (1) and substituting the following paragraph:“(c)any action taken under the Rules of a designated system.”; and
(c)
by deleting paragraphs (a) and (b) of subsection (2) and substituting the following paragraphs:“(a)the netting or settlement of a transfer order in accordance with the Rules of a designated system; or
(b)
any other action taken under the Rules of a designated system.”.