Regulation 1
Citation and commencement
This Order is the Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 and comes into operation on 8 February 2021.
/akn/sg/act/sub_leg/2002/PSSFNA-S82-2021
Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021
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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) (Fast and Secure Transfers) Order 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation PSSFNA-S82-2021 2002, currently marked in force and first recorded in 2002.
Regulation 2
Designation of system
Subregulation 1
Subject to sub‑paragraph (2), the Fast and Secure Transfers, being a system —
(a)
that provides real‑time Singapore‑Dollar fund transfers for the clearing of payment obligations undertaken by the Automated Clearing House;
(b)
that is operated by Banking Computer Services Private Limited; and
(c)
the settlement institution of which is the Authority,is a designated system for the purposes of the Act.
Subregulation 2
The Banking Computer Services Private Limited must provide to the Authority any information that the Authority reasonably requires for the proper administration of the Act.
Subregulation 3
In this paragraph, “Automated Clearing House” means the Automated Clearing House that is established under regulation 3 of the Banking (Clearing House) Regulations (Cap. 19, Rg 1).
Common questions
- What is Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021?
- Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation PSSFNA-S82-2021 2002, currently marked in force and first recorded in 2002.
- Is Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 still in force?
- Yes — Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 is currently in force.
- When did Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 take effect?
- Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 was first recorded in 2002.
- How many regulations does Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 have?
- Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 contains 2 regulations.
- Where can I read the official version of Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021?
- The official text of Payment and Settlement Systems (Finality and Netting) (Designated System) (Fast and Secure Transfers) Order 2021 is published at sso.agc.gov.sg.