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
The Authority may, by order published in the Gazette, designate a system to be a designated system for the purposes of this Act, subject to such conditions as may be prescribed.
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
Any order made under subsection (1) shall specify the operator of the designated system.
operator
“operator”, in relation to a designated system, means the person specified in the order referred to in section 3(1) as the operator of the designated system;
Authority
“Authority” means the Brunei Darussalam Central Bank established by the Brunei Darussalam Central Bank Order, 2010;
designated system
“designated system” means a system that is designated by the Authority under section 3 to be a designated system for the purposes of this Act;
operator
“operator”, in relation to a designated system, means the person specified in the order referred to in section 3(1) as the operator of the designated system;
system
“system” means a system established for — (a) the clearing or settlement of payment obligations; or (b) the clearing, settlement or transfer of book-entry securities; Payment and Settlement Systems (Finality and Netting)
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