Commonwealth Numbered Regulations

PAYMENT SYSTEMS AND NETTING AMENDMENT REGULATIONS 2004 (NO. 1) 2004 NO. 402 - SCHEDULE 1

(regulation 3)

[1] Regulation 3, definitions of bond , clearing facilities , repurchase agreement and SFE Clearing

omit

[2] Regulation 4

substitute

4 Declaration under definition of netting market

For paragraph (b) of the definition of netting market in section 5 of the Act, the arrangement consisting of the system for the settlement, by CLS Bank International, of payment instructions arising from foreign exchange transactions is declared to be a netting market.