National Payment System Act, 1998 (Act No. 78 of 1998)NoticesDesignation of South African Postbank SOC Limited as a Designated Clearing System Participant3. Designation |
| 3.1. | The SARB has considered the provisions of the NPS Act and has deemed it to be in the interest of the safety, integrity, effectiveness, and efficiency of the NPS to designate Postbank as a clearing system participant; |
| 3.2. | Therefore, I, Mr E L Kganyago, Governor of the SARB, hereby, with effect from the date of publication in the Government Gazette: |
| 3.2.1 | designate Postbank as a clearing system participant in terms of section 6(3)(a) of the NPS Act, subject to the conditions listed under heading 4 below; and |
| 3.2.2 | have received confirmation, in terms of section 6(3)(a)(ii) of the NPS Act, that the Reserve Bank settlement system participant associated with the designated clearing system participant is the Standard Bank of South Africa Limited (Standard Bank). |