Payment and Settlement Systems (Oversight) Act · 2022 Revised Edition · Part · Functions and Powers of Authority
Official textFrom Attorney General's Chambers, unchanged
In exercising its powers in relation to payment systems under this Act, the Authority shall have regard to the interests of the public, and in this respect, the Authority may take into consideration —
Authority
“Authority” means the Brunei Darussalam Central Bank established under the Brunei Darussalam Central Bank Order, 2010;
whether any payment system is, in the opinion of the
payment system
“payment system” means a funds transfer system or other system that facilitates the circulation of money, and includes any instruments and procedures that relate to the system;
Authority —
financially safe for use by participants;
efficient; and
not materially causing or contributing to increased risk to the financial system; and
such other matters as the Authority may consider to be relevant.
Authority
“Authority” means the Brunei Darussalam Central Bank established under the Brunei Darussalam Central Bank Order, 2010;
payment system
“payment system” means a funds transfer system or other system that facilitates the circulation of money, and includes any instruments and procedures that relate to the system;
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