Singapore Government
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Contents

Long Title

Part I PRELIMINARY

Part II FUNCTIONS AND POWERS OF AUTHORITY

Part III INFORMATION GATHERING POWERS OVER PAYMENT SYSTEMS

Part IV DESIGNATION OF PAYMENT SYSTEMS

Part V OBLIGATIONS OF OPERATORS AND SETTLEMENT INSTITUTIONS OF DESIGNATED PAYMENT SYSTEMS

Part VI OVERSIGHT POWERS OVER DESIGNATED PAYMENT SYSTEMS

Part VII STORED VALUE FACILITIES

Part VIII ASSISTANCE TO FOREIGN REGULATORY AUTHORITIES

Part IX MISCELLANEOUS

Legislative Source Key

Legislative History

Comparative Table

 
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Print   Link to In-Force Version
On 28/11/2014, you requested the version in force on 28/11/2014 incorporating all amendments published on or before 28/11/2014. The closest version currently available is that of 18/04/2013.
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Exemption
53.
—(1)  The Authority may by regulations, either permanently or for such period as the Authority may think fit, exempt any person or class of persons, any payment system or class of payment systems, any stored value facility or class of stored value facilities, from all or any of the provisions of this Act subject to such conditions or restrictions as may be prescribed.
(2)  The Authority may, on the application of any person, by notice in writing exempt the person from all or any of the provisions of this Act or the requirements specified in any written direction made by the Authority under this Act if the Authority considers it appropriate to do so in the circumstances of the case.
(3)  An exemption granted under subsection (2) —
(a)
may be granted subject to such conditions or restrictions as the Authority may specify by notice in writing;
(b)
need not be published in the Gazette; and
(c)
may be withdrawn at any time by the Authority.
(4)  Any person who contravenes any condition or restriction imposed under subsection (1) or (3)(a) shall be guilty of an offence.