National Payment System Act definition

National Payment System Act means the National Payment System Act, 1998 (Act No. 78 of 1998);
Sample 1Sample 2Sample 3
National Payment System Act. ’ means the National Payment System Act, 1998 25
Sample 1Sample 2Sample 3
National Payment System Act means the National Payment System Act, 1998 (Act No. 78 of 1998); “National Treasury” means the National Treasury established in terms of section 5 of the Public Finance Management Act;
Sample 1

Examples of National Payment System Act in a sentence

  • Furthermore, the National Payment System Act, 1998 (Act No. 78 of 1998 – the NPS Act) provides for the management, administration, operation, regulation and supervision of payment, clearing and settlement systems in South Africa, and to provide for connected matters.

  • Section 10(1)(c)(i) of the SARB Act empowers the SARB to “perform such functions, implement such rules and procedures and, in general, take such steps as may be necessary to establish, conduct, monitor, regulate and supervise the payment, clearing and/or settlement systems”.2 The National Payment System Act 78 of 1998 (NPS Act) enables the SARB to perform the functions as provided for in the SARB Act.

  • I propose to make amendments to the National Payment System Act, CAP 437 by reducing mobile money transaction levy on sending and withdrawing moniesfrom a maximum of 7,000 shillings currently in existence to a maximum of 4,000 shillings on each transaction.

  • Recommendations for regulating payments using crypto assets: The National Payment System Act should develop a framework to regulate the use of crypto assets for domestic payment purposes and/or the regulation of payment services associated with crypto assets.

  • These include:  A review of the National Payment System Act (NPSA) to strike a balance between the NPS and banking.

  • PSPs that provide payment services in Kenya on a cross-border basis are required to obtain authorisation from the CBK and comply with the provisions of the National Payment System Act.

  • The NPS Act, therefore, provides the regulatory and supervisory power to the Bank to manage and control payment system risk.All e-money-related schemes must not be in contravention of any legislation, with reference to among others: • the South African Reserve Bank Act, No. 90 of 1989;• the National Payment System Act, No. 78 of 1998;• the Banks Act, No. 94 of 1990;• Exchange Control Regulations; and• the Financial Intelligence Centre Act, No.38 of 2001.

  • A World Bank diagnostic report that identified potential shortcomings in bank conduct and steps to improve market conduct practices in the banking sector was published, and in conjunction with the Reserve Bank, the National Payment System Act review policy paper was published for public comment.

  • Electronic money-related schemes must not be in contravention of any legislation, including inter alia:• the South African Reserve Bank Act 90 of 1989;• the National Payment System Act 78 of 1998;• the Banks Act 94 of 1990; and• the Financial Intelligence Centre Act 38 of 2001.The role banks play with the advancement of payment systems is vital.

  • These include the National Payment System Act (2011),33 the Consumer Protection Act (2012),34 amendments to the KICA, 1998 and its regulations, including the ConsumerProtection Regulations (2010) and the Registration of SIM Cards Regulations (2015).

Related to National Payment System Act

  • payment system means a funds transfer system with formal and standardised arrangements and common rules for the processing, clearing and/or settlement of payment transactions;

  • Retirement system means a retirement plan or system that is established by or pursuant to title 38.

  • Cash Payment System means a payment system that generates any transfer of funds through a transaction originated by cash, check, or similar paper instrument. This includes electronic payments to a financial institution or clearing house that subsequently issues cash, check, or similar paper instrument to the designated payee.

  • Settlement System Code means the specifications, standards, methods, calculations and conventions established under the AUC Settlement System Code Rule 021, as amended or replaced from time to time;

  • National Ambient Air Quality Standards or “NAAQS” means national ambient air quality standards that are promulgated pursuant to Section 109 of the Act, 42 U.S.C. § 7409.

  • Privacy Regulations means the Privacy and Electronic Communications (EC Directive) Regulations 2003 as amended in 2004, 2011, 2015 and 2016 and as may be further amended from time to time;

  • Safety Management System means a systematic approach to managing safety, including the necessary organisational structures, accountabilities, policies and procedures;

  • commercial air transport means an aircraft operation involving the transport of passengers, cargo, or mail for remuneration or hire.

  • settlement system means any infrastructure whether or not connected to the auction platform that can provide settlement services, which may include clearing, netting, management of collateral, or any other services, which ultimately enable the delivery of allowances on behalf of an auctioneer to a successful bidder or its successor in title, and the payment of the sum due by a successful bidder or its successor in title to an auctioneer, carried out through either of the following:

  • Distribution System Code means the code approved by the Board which, among other things, establishes the obligations of the distributor with respect to the services and terms of service to be offered to customers and retailers and provides minimum, technical operating standards of distribution systems;

  • The HIPAA Privacy Rule means the Standards for Privacy of Individually 10 Identifiable Health Information at 45 CFR Part 160 and Part 164, Subparts A and E.

  • Intermediate Distribution Frame (IDF means a second frame that augments an existing Main Distribution Frame. Lines or outside cables that do not terminate on the IDF.

  • Centralized Message Distribution System (CMDS) means the industry-wide data collection system, which handles the daily exchange of message details between CMDS participating telephone companies (also known as CMDS Direct Participants). AT&T-21STATE is a CMDS Direct Participant.

  • HIPAA Privacy Rule means the regulations promulgated under HIPAA by the United States Department of Health and Human Services to protect the privacy of Protected Health Information, including, but not limited to, 45 CFR Part 160 and 45 CFR Part 164, Subpart A and Subpart E.

  • Wastewater treatment system means any equipment, plants,

  • air traffic control service means a service provided for the purpose of:

  • Database Management System (DBMS) A system of manual procedures and computer programs used to create, store and update the data required to provide Selective Routing and/or Automatic Location Identification for 911 systems. Day: A calendar day unless otherwise specified. Dedicated Transport: UNE transmission path between one of CenturyLink’s Wire Centers or switches and another of CenturyLink’s Wire Centers or switches within the same LATA and State that are dedicated to a particular customer or carrier. Default: A Party’s violation of any material term or condition of the Agreement, or refusal or failure in any material respect to properly perform its obligations under this Agreement, including the failure to make any undisputed payment when due. A Party shall also be deemed in Default upon such Party’s insolvency or the initiation of bankruptcy or receivership proceedings by or against the Party or the failure to obtain or maintain any certification(s) or authorization(s) from the Commission which are necessary or appropriate for a Party to exchange traffic or order any service, facility or arrangement under this Agreement, or notice from the Party that it has ceased doing business in this State or receipt of publicly available information that signifies the Party is no longer doing business in this State.

  • Mass Privacy Act is defined in Section 9.2 hereof.

  • Electronic Payment System means a payment system that generates any transfer of funds, other than a transaction originated by cash, check, or similar paper instrument, which is initiated through an electronic terminal, telephone, mobile phone, computer, or magnetic tape, for the purpose of ordering, instructing or authorizing a financial institution to debit or credit an account. The term includes debit cards, wire transfers, transfers made at automatic teller machines, and point-of-sale terminals.

  • Drug Free Workplace Act Party will assure a drug-free workplace in accordance with 45 CFR Part 76.

  • Earned value management system means an earned value management system that complies with the earned value management system guidelines in the ANSI/EIA-748.

  • Centralized Message Distribution System or "CMDS" means the operation system that Local Exchange Carriers use to exchange outcollect and IABS access messages among each other and other parties connected to CMDS.

  • Air pollution control equipment means a mechanism, device, or contrivance used to control or prevent air pollution, that is not, aside from air pollution control laws and administrative regulations, vital to production of the normal product of the source or to its normal operation.

  • National Pollutant Discharge Elimination System (NPDES) means the national program for issuing, modifying, revoking and reissuing, terminating, monitoring, and enforcing permits and imposing and enforcing pretreatment requirements, under Sections 307, 318, 402, and 405 of CWA. The term includes an approved program.

  • National Road Traffic Act means the National Road Traffic Act, 1996 (Act 93 of 1996);

  • Elder abuse (OAA) means abuse, neglect, or exploitation of an older individual (elder) including the willful: