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Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006

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Type
Subsidiary Legislation
Status
In force
Enacted
2002
Sections
2

Quick answer

About this subsidiary legislation

Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation PSSFNA-S652-2006 2002, currently marked in force and first recorded in 2002.

Regulation 1

Citation and commencement

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Amended byS 373/2018 wef 06/06/2018

This Order may be cited as the Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 and shall come into operation on 9th December 2006.

Regulation 2

Designation of system

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Amended byS 373/2018 wef 06/06/2018S 390/2012 wef 27/08/2012

Subregulation 1

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The New MAS Electronic Payment and Book-Entry System, being a real-time gross settlement system for —

(a)

the transfer of funds;

(b)

the settlement of payment obligations; and

(c)

the transfer and settlement of book-entry securities and instruments,between or among participants approved by the Authority under section 29A of the Monetary Authority of Singapore Act (Cap. 186), which incorporates the offline contingency modules and is operated by the Authority, shall be a designated system for the purposes of the Payment and Settlement Systems (Finality and Netting) Act.

Subregulation 1A

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Amended byS 373/2018 wef 06/06/2018

The settlement institution of the New MAS Electronic Payment and Book‑Entry System is the Authority.

Subregulation 2

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In this paragraph, “offline contingency modules” means the modules of the New MAS Electronic Payment and Book-Entry System which are activated when the system experiences severe problems, causing disruption to the normal settlement processes.

Common questions

What is Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006?
Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation PSSFNA-S652-2006 2002, currently marked in force and first recorded in 2002.
Is Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 still in force?
Yes — Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 is currently in force.
When did Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 take effect?
Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 was first recorded in 2002.
How many regulations does Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 have?
Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 contains 2 regulations.
Where can I read the official version of Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006?
The official text of Payment and Settlement Systems (Finality and Netting) (Designated System) (New MAS Electronic Payment and Book-Entry System) Order 2006 is published at sso.agc.gov.sg.