In force2022 Revised EditionCurrent version · 2022 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Payment and Settlement Systems (Finality and Netting) Act · 2022 Revised Edition · Part · Preliminary
Payment and Settlement Systems (Finality and Netting) Act · 2022 Revised Edition · Part · Preliminary
Official textFrom Attorney General's Chambers, unchanged
This Act may be cited as the Payment and Settlement Systems
(Finality and Netting) Act.
netting
“netting” means the conversion into one net claim or one net obligation of claims and obligations resulting from transfer orders which a participant either issues to, or receives from, one or more other participants with the result that only a net claim can be demanded or a net obligation be owed;
netting
“netting” means the conversion into one net claim or one net obligation of claims and obligations resulting from transfer orders which a participant either issues to, or receives from, one or more other participants with the result that only a net claim can be demanded or a net obligation be owed;
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