Section 3
Application
of Act 627
ActRepealedProvision 3 of 73
Section 3
(1)
Where an operator issues a designated payment instrument, such operator shall also comply with the requirements of Part III. ;
(2)
Where an issuer operates a payment system, such issuer shall also comply with the requirements of Part II.
(3)
This Act shall apply to a person outside Malaysia who is an operator of a payment system if such payment system accepts payment or settlement instructions from participants in Malaysia unless otherwise prescribed by the Bank.