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APPROVALS UNDER THE PAYMENT SYSTEMS AND NETTING ACT 1998
Under the Payment Systems and Netting Act, the Reserve Bank has the power to grant approvals to real-time gross settlement (RTGS) systems and to multilateral netting arrangements. These approvals provide certain legal protections for transactions undertaken in such systems. This page provides links to current approvals and to the relevant media releases.
| System | Current Approval | Date of Gazettal | Previous Approval | Media Release2 |
|---|---|---|---|---|
| RITS | 19 February 1999 | 3 March 1999 | 29 October 1998 | 1998-15 |
| Austraclear | 19 February 1999 | 3 March 1999 | 29 October 1998 | 1998-15 |
| CHESS RTGS1 | 5 March 2004 | 11 March 2004 | 24 November 2000 | 2000-19 |
2. Media Releases relate to previous approvals.
|
|
|
..................................................................................................................................
 |
|
System |
Current Approval |
Previous Approval |
Media Release |
|---|---|---|---|
|
Austraclear (in Fallback mode) |
16 November 1999 |
- |
1999-13 |
| 18 August 2004 |
- |
2004-07 | |
| 18 August 2004 |
- |
2004-07 | |
| 18 August 2004 |
- |
2004-07 | |
|
HVCS
(in Bypass mode) |
18 August 2004 |
16 November 1999 |
2004-07 |
| 1 May 2007 | - |
2007-06 |
