Section 40
Changes to designated payment instruments
of Payment and Settlement Systems (Oversight) Act
(1)
Where the Authority has prescribed the documents and information under subsection (2), an issuer of a designated payment instrument shall submit to the Authority particulars of any proposed change to the documents or information within 30 days prior to the making of such change.
(2)
The Authority, in prescribing the documents and information to be submitted under section 36(1), may also prescribe the documents and information to which subsection (1) applies.
(3)
Where it appears to the Authority that such change is inappropriate, the Authority may, before the expiry of the 30 days referred to in subsection (1) —
(a)
prohibit the issuer from making such change; or
(b)
require the issuer to make any other changes as the Authority may specify.