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Payment and Settlement Systems Act, 2007

21. Duties of a system provider. -

1.   Every system provider shall disclose to the existing or potential system participants, the terms and conditions including the charges and the limitations of liability under the payment system, supply them with copies of the rules and regulations governing the operation of the payment system, netting arrangements and other relevant documents.

2.   It shall be the duty of every system provider to maintain the standards determined under this Act.

Payment and Settlement Systems Act, 2007 Back

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