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Section 31

Requirement to submit information

of Act 627

ActRepealedProvision 31 of 73
Section 31
(1)

An operator, participant or issuer shall, within such time as the Bank may specify, submit to the Bank all such documents and information regarding the payment system or payment instrument as the Bank may specify.

(2)

The documents and information referred to in subsection (1)

shall include documents and information relating to any participant of the payment system or user of the payment instrument, and the business, affairs, statistics and information on transactions relating to the payment system or payment instrument as the Bank may specify under subsection (1).

(3)

The provisions of subsection (1) shall be without prejudice to, and shall not in any manner derogate from, any other power conferred on the Bank or an investigating officer under this Act.

(4)

The provisions of this section shall have effect notwithstanding the provisions of any written law as to secrecy or other restriction on the disclosure of information or of any oath, undertaking or requirement of secrecy, to the contrary, or of any obligation under any contract, agreement or arrangement, whether express or implied, to the contrary.

Powers of the Bank over Designated Payment Systems and

Designated Payment Instruments