Section 3
Application of Act
of Payment and Settlement Systems (Oversight) Act
ActIn forceProvision 3 of 61
Section 3
(1)
Parts 3 to 6 do not apply to the Authority in its capacity as —
(a)
a participant;
(b)
an operator; or
(c)
a settlement institution, of any payment system.
(2)
This Act also applies to a person outside Brunei Darussalam who is an operator of a payment system if such payment system accepts payment or settlement instructions from participants in Brunei Darussalam unless prescribed by the Authority.