- (Gazette 40930, Notice R475)0.17 MB
In terms of section 10 (1) (c) (i) of the South African Reserve Bank Act, 1989 (Act No. 90 of 1989) (the SARB Act), the South African Reserve Bank (the SARB) is required to perform such functions, implement such rules and procedures and, in general, take such steps as may be necessary to establish, conduct, monitor, regulate and supervise payment, clearing or settlement systems. Furthermore, the National Payment System Act, 1998 (Act No. 78 of 1998) (the NPS Act) provides for the management, administration, operation, regulation and supervision of payment, clearing and settlement systems in the Republic of South Africa, and for connected matters.
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