Question
What is the next step in dispute resolution if a system
participant is not satisfied with the decision of the panel as provided under the Payment and Settlement Systems Act?Solution
Section 24. Settlement of disputes: (3) Where any dispute arises between any system participant and the system provider or between system providers or where any of the system participants is not satisfied with the decision of the panel referred to in sub-section (1), the dispute shall be referred to the Reserve Bank.
Consider statements regarding Section 24 (Effect of Other Laws):
1. This Act has overriding effect over other enactments
2. For dual offen...
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Select correct answer using opti...
