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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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