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Payment Systems and Netting Act 1998
8Application for approval of payment system
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#### 8 Application for approval of payment system
(1) A person may apply to the Reserve Bank for approval of a payment or settlement system.
(2) The application must:
(a) be in the form approved in an instrument under subsection (3); and
(b) be accompanied by the documents:
(i) specified in the regulations; or
(ii) required by the Reserve Bank.
(3) The Reserve Bank may, by notifiable instrument, approve a form for the purposes of paragraph (2)(a).