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[Cites 0, Cited by 0] [Section 4(1)] [Section 4] [Entire Act]

Union of India - Subsection

Section 4(1)(a) in The Payment And Settlement Systems Act, 2007

(a)the continued operation of an existing payment system on commencement of this Act for a period not exceeding six months from such commencement, unless within such period, the operator of such payment system obtains an authorisation under this Act or the application for authorisation made under section 7 of this Act is refused by the Reserve Bank;