In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Payment Services Act 2019 · 2020 Revised Edition · Part 3 · Payment Systems
45. Withdrawal of designation of payment system
Feedback & support(1)
The Authority may, by order in the Gazette, withdraw the designation of any designated payment system at any time if the Authority is of the opinion that the applicable consideration in section 42(1)(a)(i), (ii) or (iii), (b) or (c) is no longer valid or satisfied.
(2)
The Authority must not withdraw the designation of any designated payment system without giving the operator and the settlement institution of that designated payment system an opportunity to be heard.
designated payment system
Defined · s 2
“designated payment system” means a payment system that is designated by the Authority under section 42 to be a designated payment system for the purposes of this Act;