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2023 Laws not yet authenticated through a Commencement Order

Revised Laws of Saint Lucia (2023)

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PART 4
DESIGNATION OF FUNDS TRANSFER SYSTEM OR SETTLEMENT SYSTEM

PART 4 DESIGNATION OF FUNDS TRANSFER SYSTEM OR SETTLEMENT SYSTEM

2. Interpretation

3. Establishment of Payment System and Central Bank's exclusive authority

4. Characteristics of the Payment System

5. The large value electronic transfer system

6. Cheque clearing system

7. Settlement for systems not operated by the Central Bank

8. Participation in systems not operated by the Central Bank

9. Technical assistance to funds transfer systems

10. Netting arrangements

11. Designation of funds transfer systems or settlement system

12. Central Bank to establish standards for designated system

13. Variation or revocation of standards

14. Cessation of standards

15. Establishment of access regime

16. Commencement and cessation of access regime

17. Variation of access regime

18. Commencement of variation

19. Revocation of access regime

20. Effective date of revocation

21. Bankruptcy or insolvency of operator or system participant

22. Utilisation of deposits, etc., FULL

23. Validity of electronic data

24. Retention of records

25. Central Bank examination of books of an operator

26. Disclosure and access to books and records

27. System participant and operator to provide information

28. Annual audit, report and publication of financial statements

29. Management's duty to comply with the law

30. Settlement of disputes by arbitration

31. Directives by Central Bank

32. Regulations

33. Central Bank to make rules

34. Prudential guidelines

35. Act to bind the Crown

PART 1 PRELIMINARY

2. Interpretation

PART 2 AUTHORITY OF THE CENTRAL BANK

PART 3 THE PAYMENT SYSTEM

4. Characteristics of the Payment System

5. The large value electronic transfer system

6. Cheque clearing system

7. Settlement for systems not operated by the Central Bank

8. Participation in systems not operated by the Central Bank

9. Technical assistance to funds transfer systems

10. Netting arrangements

11. Designation of funds transfer systems or settlement system

12. Central Bank to establish standards for designated system

13. Variation or revocation of standards

14. Cessation of standards

15. Establishment of access regime

16. Commencement and cessation of access regime

17. Variation of access regime

18. Commencement of variation

19. Revocation of access regime

20. Effective date of revocation

PART 5 INSOLVENCY OR BANKRUPTCY OF SYSTEM PARTICIPANT OR AN OPERATOR

21. Bankruptcy or insolvency of operator or system participant

22. Utilisation of deposits, etc., FULL

PART 6 EXAMINATION, AUDIT AND INFORMATION

23. Validity of electronic data

24. Retention of records

25. Central Bank examination of books of an operator

26. Disclosure and access to books and records

27. System participant and operator to provide information

28. Annual audit, report and publication of financial statements

PART 7 COMPLIANCE, ARBITRATION AND REGULATION

30. Settlement of disputes by arbitration

31. Directives by Central Bank

32. Regulations

33. Central Bank to make rules

34. Prudential guidelines

PART 8 MISCELLANEOUS

35. Act to bind the Crown

SUBSIDIARY LEGISLATION

Payment System (Eastern Caribbean Automated Clearing House System) Rules – section 33 (Statutory Instruments 79/2014, 33/2015, 199/2021 and 121/2022)

PART 1 PRELIMINARY