Republic Acts1 min read
Section 18Sec./Art. 18
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Netting. - Notwithstanding the provisions of existing laws to the contrary, when an operator receives from the participant a notice pursuant to Section 16, the operator may effect the netting of all payment orders received before such notice in accordance with the (agreed procedures of the payment system. The insolvency, bankruptcy, rehabilitation, receivership or liquidation proceedings shall recognize any such netting as valid.
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