Singapore legislation
Regulation 2
of Payment and Settlement Systems (Finality and Netting) (Designated System) (CLS System) Order
Regulation 2
Designation of system
Amended byS 372/2018 wef 06/06/2018S 372/2018 wef 06/06/2018
Subregulation 1
Amended byS 372/2018 wef 06/06/2018
The CLS System being a system for settling payment obligations and entitlements and operated by CLS Bank International shall be a designated system for the purposes of the Act.
Subregulation 2
Amended byS 372/2018 wef 06/06/2018
The settlement institution of the CLS System is CLS Bank International.