General Notice No. 879 of 2013

National Payment Systems Act (78/1998) » Designation notice

Title	National Payment Systems Act (78/1998) » Designation notice
Department	South African Reserve Bank
Gazette	National Gazettes, No. 36779 of 30 August, 2013, 3 page(s), 193Kb

46  No. 36779                GOVERNMENT GAZETTE, 30 AUGUST 2013

NOTICE 879 OF 2013

;

South African Reserve

Designation Notice

Designation by the Governor of the South African Reserve Bank in terms of section 6(3)(a)
                of the National Payment System Act, 1998:

Designation of Diners Club (SA) (Proprietary) Limited as a designated clearing
                system participant

Introduction
                1

1.1       The South African Reserve Bank ("the Reserve Bank") is empowered to
                          designate a clearing system participant in terms of section 6(3)(a) of the

National Payment System Act, 1998 (Act No. 78 of 1998) ("the Act"), as
                          amended. Such designation may be made if it is in the interest of the integrity,
                          effectiveness, efficiency or security of the payment system.

1.2       The objective of this Designation Notice ("Notice') is to designate Diners Club
                          (SA) (Propriety) Limited (Registration No.1956/000068/07) ("Diners Club") as a

designated clearing system participant. The designation will enable Diners Club
                          to clear in the manner contemplated in section 4 (2)(d)(i) of the Act.

2.         Background of the proposed designated clearing system participant

2.1        Diners Club is operating as a wholly owned subsidiary of The Standard Bank of
                          South Africa Limited ("Standard Bank") under a franchise agreement with

Diners Club International Limited.

2.2        Diners Club issues and acquires Diners Club branded cards that clients use to
                          purchase goods and services, as well as withdraw cash.

2.3       Transactions initiated through the use of Diners Club cards may either be:

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General Notice No. 879 of 2013

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