14. Obligation of operator and settlement institution to appoint auditor

Terms defined in s 2

• operator

  operator

  Defined · s 2

  “operator”, in relation to a payment system, means a person who operates the payment system;

  Open s 2
• settlement institution

  settlement institution

  Defined · s 2

  “settlement institution” means a person who provides facilities for — (a) the participants of a payment system to hold funds; and (b) the settling of transactions between the participants;

  Open s 2