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← Payment and Settlement Systems (Finality and Netting) Act 2002

Payment and Settlement Systems (Finality and Netting) Act 2002 s 17C

s 17C Protection from liability

17C.—(1) No liability shall be incurred by a relevant person for anything done (including any statement made) or omitted to be done with reasonable care and in good faith in the execution or purported execution of any function, duty or power of that relevant person under this Act or under the Rules of a designated system.[4/2018] (2) In this section —“officer”, in relation to an operator, a settlement institution or a collateral holder of a designated system, means any director, partner, chief executive, manager, secretary or other similar officer of that operator, settlement institution or collateral holder; “relevant person” means —(a) an operator, a settlement institution or a collateral holder of a designated system; or (b) any officer or employee of an operator, a settlement institution or a collateral holder of a designated system.[4/2018]

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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