(1) The discharge of settlement obligations between institutions participating in the system is effected by means of entries to accounts maintained with the Bank of Ghana, or any other bank that the Bank of Ghana may determine, for settlement purposes.

(2) An electronic money issuer that holds electronic money float with more than one bank, shall ensure that all settlement transactions between the accounts of the respective banks is done through the interbank payment and settlement system or any other means that the Bank of Ghana may determine.

(3) A settlement effected in accordance with subsection (1) is final and irrevocable.