National Payment System Act, 1998 (Act No. 78 of 1998)5. Settlement provision |
| 1) | Settlement is effected in money or by means of entries passed through the Reserve Bank settlement system or a designated settlement system. |
| 2) | A settlement that has been effected in money or by means of an entry to the credit of the account maintained by a settlement system participant in the Reserve Bank settlement system or a designated settlement system is final and irrevocable and may not be reversed or set aside. |
| 3) | An entry to or payment out of the account of a designated settlement system participant to settle a payment or settlement obligation in a designated settlement system is final and irrevocable and may not be reversed or set aside. |