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Estonia · Law · SE

743

Payment and Settlement Systems Act

avaldatud riigiteatajasEstonia· Riigikogu· ET

Introduced

14 November 2022

Last action

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Status

AVALDATUD_RIIGITEATAJAS

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Subjects

Discovery layer

Source updated

8 February 2023

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Summary

In the form of the bill, it is a new comprehensive law that provides requirements for major payment systems. The current law is insufficient today, and the provisions are scattered in various legal acts. The bill defines important terms for the payment market and provides for the rules of the settlement system, the rights and obligations of the system organizer and the system participant. It is foreseen how things will happen in systemically important payment systems and securities settlement systems execution of payment orders, including if a party becomes insolvent or goes bankrupt.

Machine translation from Estonian. The official text remains authoritative.

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Documents

26 official files

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