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Article (131) Finality of Payment & Settlement

Fed Law 14/2018 Issued on 1/10/2018

1) All transactions conducted through a Financial Infrastructure System, which meets one of the designation conditions referred to in item (2) of Article (126) of this decretal law shall be final, irrevocable and irreversible, in any of the following cases:

  • a. Transfer of funds from or to the account of a Participant Person.
  • b. Settlement of a payment obligation.
  • c. Settlement of an obligation to transfer, or the actual transfer of book- entry securities.

2) No transfer or settlement pertaining to the transactions referred to in item (1) of this article shall be cancelled, set aside, re-paid, or reversed, nor shall it be rectified, whether by a court judgement order, or by law