(1) The Central Bank may establish standards to be complied with by the operator or system participants in a designated funds transfer system or designated settlement system where it is in the public interest.
(2) Standards established under subsection (1)—
(a) shall be published in the Gazette and any other media by the Central Bank;
(b) comes into force—
(i) subject to subparagraph (ii) on the day on which the standards are published in accordance with paragraph (a), or
(ii) the date specified in the standards;
(c) may be varied as provided in section 13.