Section 69: Standard for Payment, Settlement and Clearance Activities.

(1) Subject to the provisions of this Act, the Bank may, by regulation, prescribe the administration and standards, governing the operations relating to the payment, clearing, and settlement activities of banks, specialised banks or other financial institutions, taking into consideration existing prudential requirements and relevant international standards.
(2) in this section, the term, "payment, clearing, and settlement activity" means an activity carried out by one or more financial institutions to facilitate the completion of financial transactions, but does not include any offer or sale of a security under the Investment and Securities Act.
(Act No. 29. 2007.)