Revised Laws of Saint Lucia (2021)

13.   Variation or revocation of standards

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    (1)   The Central Bank may vary or revoke standards established under section 12 if the Central Bank considers it is appropriate to do so, having regard to—

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      (a)     whether the variation or revocation would be in the public interest;

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      (b)     the interests of the current system participants in the system;

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      (c)     the interests of people who, in the future, may desire access to the designated funds transfer system or designated settlement system; and

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      (d)     any other matters the Central Bank considers relevant.

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    (2)   The Central Bank—

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      (a)     shall publish in the Gazette details of its decision to vary or revoke standards and particulars of the variation or revocation; and

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      (b)     may publish notice of its decision in any other media.

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    (3)   Failure by the Central Bank to comply with subsection (2)(a) does not invalidate the variation or revocation.