In force2022 Revised EditionCurrent version · 2022 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Payment and Settlement Systems (Oversight) Act · 2022 Revised Edition · Part · Payment Instruments
Payment and Settlement Systems (Oversight) Act · 2022 Revised Edition · Part · Payment Instruments
Official textFrom Attorney General's Chambers, unchanged
The issuer of a designated payment instrument shall establish adequate governance arrangements which are effective, accountable and transparent to ensure the continued integrity of such designated payment instrument.
issuer
“issuer” means any person, acting alone or under an arrangement with another person, who undertakes to be responsible for the payment obligation in respect of a payment instrument resulting from the user being issued with or using the payment instrument;
designated payment instrument
“designated payment instrument” means a payment instrument prescribed as a designated instrument under section 35(1);
issuer
“issuer” means any person, acting alone or under an arrangement with another person, who undertakes to be responsible for the payment obligation in respect of a payment instrument resulting from the user being issued with or using the payment instrument;
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