Section 25
Issuing of designated payment instruments
of Act 627
ActRepealedProvision 25 of 73
Section 25
(1)
No person shall issue a designated payment instrument unless he has—
(a)
submitted to the Bank the documents and information as may be prescribed by the Bank;
(b)
paid the fee prescribed by the Bank; and
(c)
obtained a written approval from the Bank to issue a designated payment instrument. :
(2)
The Bank may in giving its approval—
(a)
require all or any of the documents submitted to be modified and altered as it may deem necessary; and
(b)
impose such restriction, limitations or conditions as it may deem fit.