4. Authority to exercise oversight functions in respect of payment systems and stored value facilities

Terms defined in s 2

• Authority

  Authority

  Defined · s 2

  “Authority” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act;

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• stored value

  stored value

  Defined · s 2

  “stored value”, in relation to a stored value facility, means the sum of money that —(a)has been paid in advance for goods or services intended to be purchased through the use of the stored value facility;(b)is available for use from time to time for making payment under the terms and conditions applying to the stored value facility; and(c)is held by the holder of the stored value facility;

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