(1) The Bank may, subject to the approval of the Minister, prescribe the fee that a person who operates a payment system must pay to the Bank in relation to the operation of the system. Different fees may be prescribed for different classes of operators of payment systems.

(2) Where the Bank proposes to prescribe a fee under subsection (1), it -

(a) shall notify the persons of the class to which the proposed fee relates of that proposed fee, and

(b) shall not prescribe the fee until it has considered any representations made to it within such period, being not less than two months after the date the notification was sent to each person concerned.