National Payment System Act
E633126
The National Payment System Act is a key South African law that regulates and oversees the country’s payment systems and clearing mechanisms to ensure their safety, efficiency, and integrity.
All labels observed (2)
| Label | Occurrences |
|---|---|
| National Payment System Act canonical | 1 |
| National Payment System Act of Kenya | 1 |
Statements (30)
| Predicate | Object |
|---|---|
| instanceOf |
South African statute
ⓘ
financial regulation law ⓘ |
| aimsToEnsure |
efficiency of payment systems
ⓘ
integrity of payment systems ⓘ safety of payment systems ⓘ |
| appliesTo |
banks operating in South Africa
ⓘ
designated clearing system participants ⓘ payment system operators ⓘ |
| assignsRegulatoryAuthorityTo | South African Reserve Bank NERFINISHED ⓘ |
| country | South Africa ⓘ |
| enforcedBy | South African Reserve Bank NERFINISHED ⓘ |
| governs |
clearing of payment instructions
ⓘ
settlement of payment obligations ⓘ |
| jurisdiction | Republic of South Africa NERFINISHED ⓘ |
| legalArea |
banking law
ⓘ
payments law ⓘ |
| objective |
to promote soundness of the financial system through safe payment mechanisms
ⓘ
to reduce systemic risk in the payment system ⓘ |
| providesFor |
designation of clearing and settlement systems
ⓘ
oversight of payment system participants ⓘ regulation of payment clearing house arrangements ⓘ rules for participation in payment systems ⓘ |
| purpose | to provide for the management, administration, operation, regulation and supervision of payment, clearing and settlement systems in South Africa ⓘ |
| regulates |
clearing systems
ⓘ
national payment system of South Africa ⓘ participants in the national payment system ⓘ payment systems ⓘ settlement systems ⓘ |
| relatedTo | financial stability in South Africa ⓘ |
| sector | financial services regulation ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
National Payment System Act of Kenya