Payment Systems Act 2003

Among those laws is the payment systems act psa 2003 1 it is a principal legislation which provides for the framework for the regulation and supervision of the payment systems and payment instrument in malaysia 2 when anticipating the birth of this law the central bank governor emphasized that the study on the legal and regulatory framework was undertaken to enhance the efficiency.

Payment systems act 2003. The paper set out the objectives and the scope. Return to home page back to top. Payment system management act 2003. And d perform such further functions relating to payment clearing or settlement system.

Payment system management act 18 of 2003 c from time to time certify to the bank that payment systems clearing systems and payment system services and their providers meet all the standards criteria and conditions determined under paragraph a. Payment systems act 2003 act 662 arrangement of sections establishment and supervision of payment systems 1. 1 november 2003 pu b 308 2003. To provide for the management administration operation regulation oversight and supervision of payment clearing and settlement systems in namibia.

Whereas under paragraph 4 c of the central bank of. Establishment and designation of payment systems by the bank of ghana. Click here to download payment system management act 94 kb click here to access directives click here to access determinations. Consultation paper on payment systems oversight act april 2003 monetary authority of singapore v 14.

For multi purpose stored value card mpsvc schemes such as cashcard and ez link card there will be a separate regulatory regime under the act. The payment systems act 2003 ref no. Supervision of established and designated systems. Payment system management act 18 of 2003.

9th december 2002 part i. Print this page send to friend. Response to feedback received consultation on payment systems oversight act on 16 april 2003 mas released a consultation paper the paper inviting comments from the industry and other interested parties on a proposed payment systems oversight act the act in singapore. 10 03 16 bn 16 oct 2003 embargo.

Not for publication or broadcast before 1700 hours on thursday 16 october 2003 bank negara malaysia wishes to announce that a new act payment systems act 2003 the act will come into force on 1 november 2003. Access to participation in the system of institutions approved by the bank. Home regulations payment system management act 2003.