ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    What provision must the system provider make regarding

    dispute resolution between system participants, as per the Payment and Settlement Systems Act?
    A The system provider must directly intervene and resolve disputes Correct Answer Incorrect Answer
    B The system provider must appoint an external mediator for dispute resolution Correct Answer Incorrect Answer
    C The system provider must establish a panel comprising at least three unrelated system participants Correct Answer Incorrect Answer
    D The system provider must refer all disputes to the regulatory authority for resolution Correct Answer Incorrect Answer
    E The system provider must allow disputes to be resolved solely by the involved system participants Correct Answer Incorrect Answer

    Solution

    Section 24. Settlement of disputes: (1) The system provider shall make provision in its rules or regulations for creation of panel consisting of not less than three system participants other than the system participants who are parties to the dispute to decide the disputes between system participants in respect of any matter connected with the operation of the payment system. ┬а

    Practice Next
    More Administrative Interpretation and Maxims Questions
    ask-question