On 24/05/2013,
you requested for the version in force on 24/05/2013
incorporating all amendments published on or before 24/05/2013.
The closest version currently available is that of 18/04/2013.
12.
—(1) An operator and a settlement institution of a designated payment system shall notify the Authority as soon as practicable after the occurrence of any of the following events:
(a)
an intention to make a material change to the nature of the operating rules, settlement procedures or activities of the designated payment system;
(b)
an event or irregularity that impedes or prevents access to, or impairs the usual operations of the designated payment system or its settlement operations, as the case may be;
(c)
the operator or settlement institution, as the case may be, becoming, or likely to become, insolvent or unable to meet its financial, statutory, contractual or other obligations;
(d)
any other event that the Authority may prescribe by regulations or specify by notice in writing.
(2) Any operator or settlement institution of a designated payment system who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $200,000.