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Central Bank Act, 1997

Imposition of requirements for membership.

15.—In approving the rules of a payment system or in imposing terms and conditions for the operation of a system, the Bank may, without prejudice to any other requirement it sees fit to impose in the interests of the proper and orderly regulation of the system, impose conditions in relation to all or any of the following:

(a) the requirements for membership and rules of operation of the system;

(b) the code of conduct to be followed by the members of the system;

(c) the apportionment of costs as between the members themselves or between the members and the system;

(d) the fees, contributions or any other financial requirement in relation to membership of a payment system whatsoever imposed or to be imposed on an existing member of the system or an applicant for membership of the system.