(1) Discharge of settlement obligations between system participants is effected by means of entries processed through the settlement system in accordance with procedures described in the Schedule or in settlement rules.
(2) The obligation of a settling participant or central counterparty to make payment to and the corresponding right of a settling participant or central counterparty to receive payment from another settling participant or central counterparty must be netted and a net settlement or close-out amount determined, entered and cleared in accordance with settlement rules.
(3) A settlement that is effected by means of an entry to the credit of an account maintained by the central counterparty is final and irrevocable and is not to be reversed or set aside.
(4) An entry to or payment out of the account of a settling participant to settle a payment or settlement obligation in a settlement system is final and irrevocable and is not to be reversed or set aside.
(5) The Minister may at any time amend the Schedule by Order published in the Gazette.