Section 34A: Act to apply to designated trade repository and issuer.

(1) The provisions of this Act shall apply to, or in relation to, a designatedtrade repository or issuer, as they apply to, or in relation to, payment systems to theextent applicable, subject to the modification that, throughout this Act, unless thecontext otherwise requires,—

(a) references to a “payment system” or “system provider” shall beconstrued as references to a “designated trade repository” or “issuer”, as thecase may be;

(b) references to “commencement of this Act” shall be construed withreference to––

(i) a designated trade repository, as references to the date on whicha trade repository is specified by the Reserve Bank as a designated traderepository; and (ii) an issuer, as references to commencement of the Payment andSettlement Systems (Amendment) Act, 2015 (18 of 2015).

(2) The Reserve Bank may, on an application by a designated trade repository orotherwise, permit or direct the designated trade repository to provide such other servicesas are deemed necessary from time to time.

Explanation.—For the purposes of this section, the expression “designatedtrade repository” shall mean a trade repository or a class of trade repositories, as maybe specified by the Reserve Bank from time to time.]