Payment and Settlement Systems Act 2007 does not apply to

Definition of payment system - means a system that enables payment to be effected between a payer and a beneficiary, involving clearing, payment or settlement service or all of them, but does not include a stock exchange. Section 34 - Act not to apply to stock exchanges or clearing corporations of stock exchanges.—Nothing contained in this Act shall apply to stock exchanges or the clearing corporations of the stock exchanges. Section 34A - Act to apply to designated trade repository and issuer—(1) The provisions of this Act shall apply to, or in relation to, a designated trade repository or issuer, as they apply to, or in relation to, payment systems to the extent applicable, subject to the modification that, throughout this Act, unless the context otherwise requires.