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information as the nominated official may request relating to that default or to any matter arising out of or connected with that default.

(2) A notice given under subsection (1) shall specify the nominated official and the participant to whom the direction relates.

(3) A request for information made by a nominated official shall be in writing and shall state—

(a) the information requested; and

(b) a period, being a period that is reasonable in the circumstances, within which the information shall be given.

(4) A system operator or settlement institution to whom a request is made in accordance with subsection (3) shall comply with the request by giving the information to the nominated official within the period specified.

54. Guidelines

(1) The Monetary Authority may, for the purpose of making available relevant information, after consultation with the system operators and settlement institutions of designated systems, issue guidelines setting out the manner in which he proposes to exercise any power conferred or duty imposed on him, or to perform any function assigned to him, under this Ordinance.

(2) The Monetary Authority shall publish in the Gazette any guidelines issued by him under this section.

55. Systems deemed to have been designated

(1) The clearing and settlement systems specified in Schedule 2 shall be deemed to have been designated for the purposes of this Ordinance under section 4(1).

(2) It shall also be deemed that a certificate of finality has been issued in respect of each of the systems referred to in subsection (1).

56. Service of notices

(1) A notice that is to be or may be given to any person by the Monetary Authority under this Ordinance is taken to have been given if it is given according to the following—

(a) the notice may be delivered to him (if the person is an individual) or to any officer of the corporation (if the person is a corporation) by hand;

(b) if a place of business has been given by the person under section 6(1)(a), the notice may be left at that place;