National Payment System Act definition

National Payment System Act means the National Payment System Act, 1998 (Act No. 78 of 1998);
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National Payment System Act. ’ means the National Payment System Act, 1998 25
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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;
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Examples of National Payment System Act in a sentence

  • Furthermore, the National Payment System Act 78 of 1998 (NPS Act) provides for the management, administration, operation, regulation and supervision of payment, clearing and settlement systems in the Republic of South Africa, and to provide for connected matters.

  • The National Payment System Act 78 of 1998 (NPS Act) does not contain any requirements relating to the use of crypto assets.

  • 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 the Republic of South Africa, and for connected matters.

  • The South African Reserve Bank (SARB) is empowered to designate a clearing system participant in terms of section 6(3)(a) of the National Payment System Act 78 of 1998, as amended (NPS Act).

  • A payment services provider and operator of a payment, clearing or settlement system under the National Payment System Act.

  • On page 9, after line 39, to insert:‘‘(a) by the substitution in subsection (4)(b)(i) for items (ff) and (gg)of the following items respectively:(ff) Securities Services Act, 2004 (Act No. 36 of 2004);[or](gg) Banks Act [,];’’ ;(b) by the addition in subparagraph (i) of paragraph (b) of subsection (4) of the following items:‘‘(hh) Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003); or(ii) Section 8 of the National Payment System Act, 1998 (Act No. 78 of 1998).’’.CLAUSE 61.

  • Examples of systemic events include failures or breakdowns in elements of market infrastructure and insolvencies or suspected insolvencies of participants in markets or systems, or financial institutions, that have potential contagion effects.(3) If there is an inconsistency between a provision of this Act and a provision of another financial sector law or the National Payment System Act, the provision of this Act prevails.

  • Without affecting the generality of subsection (3), the provisions of this Act and the rules relating to settlement effectiveness of entries in a central securities account and securities account, and insolvency proceedings, prevail over any other law, legislation, agreement or founding document of any person, other than section 8 of the National Payment System Act, and are binding on any person.

  • Fabrikalarda üretilen kumaşlar pazarlarda görülmeye başlayınca birçok kumaş boyacısı Yahu- di işini kaybetmiş ve işini değiştirmiş,onların birçoğu ayakkabı tamircisi, kuaför, seyyar satıcı gibi meslek alanlarına yönelmiştir.

  • The legal foundation for the national payment system is derived from s 10(1)(c)(i) of the SARB Act and the National Payment System Act 78 of 1998 (the NPSA).

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.

  • 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;

  • 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 as defined in 45 CFR Part 164, Subparts A and E.

  • Wastewater treatment system means any equipment, plants,

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

  • Management System means an integrated set of interrelated and documented elements to prevent, control and improve the performance of a facility or group of facilities related to industrial safety, operational safety and environmental protection in the Hydrocarbons Sector.

  • 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. Lobbying: No federal funds under this agreement may be used to influence or attempt to influence an officer or employee of any agency, a member of Congress, an officer or employee of Congress, or an employee of a member of Congress in connection with the awarding of any federal contract, continuation, renewal, amendments other than federal appropriated funds.

  • 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.