(1) A printer of payment instrument or vendor of payment equipment shall apply annually for accreditation from the Bank of Ghana.

(2) A firm that engages in the printing of payment instrument or a vendor of payment equipment shall meet the standards determined by the Bank of Ghana.

(3) A firm that engages in the printing of cheques shall pay an annual accreditation fee determined by the Bank of Ghana.

(4) A bank or payment service provider shall ensure regular updates of software and firmware of payment systems infrastructure.

(5) A bank or payment service provider which fails to comply with subsection (4), is liable to pay to the Bank of Ghana an administrative penalty of one thousand penalty units.