In force2007 Revised EditionCurrent version · 2007 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
5. Authority to have regard to public interest
Feedback & supportIn exercising its powers in relation to payment systems under this Act, the Authority shall have regard to the interests of the public, and in this respect, the Authority may take into consideration —
(a)
whether any payment system is, in the opinion of the Authority —
payment system
Defined · s 2
“payment system” means a funds transfer system or other system that facilitates the circulation of money, and includes any instruments and procedures that relate to the system;
(i)
financially safe for use by participants;
(ii)
efficient; and
(iii)
not materially causing or contributing to increased risk to the financial system; and
(b)
such other matters as the Authority may consider to be relevant.[Aust Payment Systems Act 1998, s. 8]