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Division 3 In the case of a payment system, in which another payment system, e.g. an ancillary payment system, settles its positions, then the following principles apply:

United Kingdom

Original text. Later amendments are not shown.

  1. (a)

    the system of settlement reports the actual number of settlement operations and the actual amount settled;

  2. (b)

    where payment transactions are cleared outside the payment system and only net positions are settled via the payment system, only the transactions for the settlement of net positions are counted, and these are allocated to the payment service used for the settlement transaction.