(1) The large value electronic funds transfer system is the sole system for large value payments and settlement.
(2) Subject to subsection (3), the operational design of the large value electronic funds transfer system must facilitate the expeditious transmission of instructions to permit each payment to be made between parties to transactions—
(a) from and to accounts held at the Central Bank for that purpose; or
(b) from incoming transfers.
(3) The Central Bank may establish and administer a net settlement system in respect of a funds transfer system operated by the Central Bank.
(4) The Central Bank shall be the central counter-party of a net settlement system established under subsection (3).