CTHIn ForceAct
Payment Systems and Netting Act 1998
11Application for approval of netting arrangement
Start here
Get a plain-English read of 11
Turn the raw legal text into a practical explanation grounded in Payment Systems and Netting Act 1998.
11 Application for approval of netting arrangement
(1) A person may apply to the Reserve Bank for approval of a multilateral netting arrangement. (2) The application must: (a) be in the form approved in an instrument under subsection (3); and (b) be accompanied by the documents specified in the regulations or required by the Reserve Bank. (3) The Reserve Bank may, by notifiable instrument, approve a form for the purposes of paragraph (2)(a).