Section 7
Compliance with Chapter 2
of Act 627
ActRepealedProvision 7 of 73
Section 7
(1)
Where a payment system is prescribed as a designated payment system under subsection 6(1), the operator of that designated payment system shall comply with the provisions of Chapter 2.
(2)
The Bank may, upon the request of an operator of a designated payment system, allow for an extension of time, with or without conditions, for the compliance with any of the requirements in