Act Number: 51

Act Name: The Payment and Settlement Systems Act, 2007

Year: 2007

Enactment Date: 2007-12-20

Long Title: An Act to provide for the regulation and supervision of payment systems in India and to designate the Reserve Bank of India as the authority for that purpose and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 37: Power to remove difficulties.
    (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provision is not inconsistent with the provisions of this Act as appear to it to be necessary or expedient for removing the difficulty:
     Provided that no order shall be made under this section after the expiry of a period of two years from the commencement of this Act.
     (2) Every order made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.
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