Singapore legislation

Regulation 3

of Payment and Settlement Systems (Finality and Netting) (Designated System) (CLS System) Order

Regulation 3

Terms and conditions of designation

The designation referred to in paragraph 2 is subject to the following terms and conditions:

(a)

CLS Bank International shall notify the Authority as soon as practicable of —

(i)

any addition or removal of participants to or from the CLS System; and

(ii)

any amendments to the rules (including any default arrangements) of the CLS System; and

(b)

CLS Bank International shall provide to the Authority such information as the Authority may reasonably require for the proper administration of the Act.

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