Payment Systems (Oversight) Act
Payment Systems (Oversight) (Exclusion of Single Purpose Stored Value Facilities) Order
O 2
G.N. No. S 338/2006
(1st October 2007)
[23rd June 2006]
1.  This Order may be cited as the Payment Systems (Oversight) (Exclusion of Single Purpose Stored Value Facilities) Order.
2.  In this Order, unless the context otherwise requires, “single purpose stored value facility” means a stored value facility that is, or is intended to be, used for payment only of goods or services, or of both goods and services, provided by the holder of that stored value facility.
Exclusion of single purpose stored value facilities
—(1)  Single purpose stored value facilities are excluded from the computation of stored value for the purposes of section 33(1) of the Act.
(2)  The exclusion in sub-paragraph (1) shall not apply to any single purpose stored value facility, of which the stored value available for use may be transferred to or from another stored value facility (which is not a single purpose stored value facility) held by the same holder.
[S 20/2009 wef 01/02/2009]
[G.N.No. S 338/2006]