Financial Services Act 2013 s 38
s 38 Power of Bank to issue certificate of finality
The Bank may, with the concurrence of the Minister, by an order published in the Gazette, issue a certificate of finality to a designated payment system where the following criteria are met:
(a) the payment system poses or is likely to pose a systemic risk;
(b) the settlement of transfer order is effected within the designated payment system itself; and
(c) the operator of the payment system has complied with the requirements as may be specified by the Bank.
Malay text (authoritative)
Kuasa Bank mengeluarkan sijil kemuktamadan
Bank boleh, dengan persetujuan Menteri, melalui suatu perintah yang disiarkan dalam Warta, mengeluarkan sijil kemuktamadan kepada sistem pembayaran yang ditetapkan jika kriteria yang berikut dipenuhi:
(a) sistem pembayaran itu menimbulkan atau mungkin menimbulkan suatu risiko sistemik;
(b) penyelesaian perintah pemindahan itu dikuatkuasakan dalam sistem pembayaran yang ditetapkan itu sendiri; dan
(c) pengendali sistem pembayaran itu telah mematuhi kehendak sebagaimana yang ditentukan oleh Bank.
Read this section in the full act β Β· Open Division 3 β
Find Act 758 on lom.agc.gov.my β
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
