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

Notices

Designation of South African Postbank SOC Limited as a Designated Clearing System Participant

1. Introduction
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1.1. The South African Reserve Bank (SARB) is empowered to designate a clearing system participant in terms of section 6(3)(a) of the National Payment System Act 78 of 1998, as amended (NPS Act). Such designation may be made if it is in the interest of the safety, integrity, effectiveness, efficiency or security of the national payment system (NPS).

 

1.2. The objective of this Designation Notice (Notice) is to designate the South African Postbank SOC Limited (Postbank) as a designated clearing system participant. The designation will enable the Postbank to clear in the manner contemplated in section 4(2)(d)(i) of the NPS Act.