Electronic fund transfer regulation clause was omitted, removing the scheduled framework for participation, transfer procedures, rights, and obligations. The Fourth Schedule was omitted, removing a proposed framework for regulating electronic fund transfers between banks and specified financial ... Summary
Electronic fund transfer regulation clause was omitted, removing the scheduled framework for participation, transfer procedures, rights, and obligations.
The Fourth Schedule was omitted, removing a proposed framework for regulating electronic fund transfers between banks and specified financial institutions. The former insertion would have covered conditions for participation in fund transfers, the manner of transfers, and the rights and obligations of participants. It therefore addressed participation requirements, transfer procedures, and participant responsibilities in electronic fund-transfer arrangements.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.