Section 8
of Act 627
ActRepealedProvision 8 of 73
Section 8
(1)
The Bank may, by order published in the Gazette, revoke -
the designation of a payment system if the Bank is of the opinion that—
(a)
the designated payment system no longer poses any systemic risk; or
(b)
it is no longer in the interest of the public that the system be designated.
(2)
The Bank shall give the operator a reasonable opportunity to make representations before making a decision to revoke the designation.