National Payment System Act, 1998 (Act No. 78 of 1998)

Notices

Revocation of the Designation of the South African Post Office Limited, a Postal Company contemplated in Section 3(1) of the Post Office Act 44 of 1958, which previously conducted the business of a Bank through its Postbank Division, as a Designated Clearing System Participant

3. Revocation
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3.1. The SARB has considered the provisions of the NPS Act and has deemed necessary to revoke the designation of SAPO as a clearing system participant due to the transfer of the clearing system participant services to Postbank, now a separate legal entity.

 

3.2. Therefore, I, Mr E L Kganyago, Governor of the SARB, hereby, with effect from the date of publication in the Government Gazette.

 

3.3. Revoke the designation of SAPO as a clearing system participant in terms of section 6(3)(b) of the NPS Act.