In force2007 Revised EditionCurrent version · 2007 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
10. Withdrawal of designation of payment system
Feedback & support(1)
The Authority may, by order published in the Gazette, withdraw the designation of any designated payment system at any time if the Authority is of the opinion that the considerations in section 7(1) are no longer valid or satisfied.
(2)
The Authority shall not on its own initiative withdraw the designation of any designated payment system without giving the operator and the settlement institution an opportunity to be heard.[SF Act, s. 58]
designated payment system
Defined · s 2
“designated payment system” means a payment system that is designated by the Authority under section 7 to be a designated payment system for the purposes of this Act;