Law library · Sierra Leone · The Payment Systems Act, 2009
Section 4, The Payment Systems Act, 2009
Status not yet checkedThe Payment Systems Act, 2009, Sierra Leone
(1) The constitution and rules governing theestablishment and operation of every designated system together
with all amendments to such constitution and rules shall be kept at–
(a) the Central Bank; and
(b) the head office, in Sierra Leone, of every
designated system,
and shall be open for inspection by members of the public at all times
during normal business hours.
(2) Any amendment to the constitution or rules
governing a designated system shall have no effect until approved
by the Central Bank.
(3) The operators of a designated system shall make rules
for the discharge or settling of obligations under the system by way
of–
(a) netting;
(b) set-off; and
(c) gross settlement,
subject to the approval of the Central Bank.
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