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As enacted
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Contents

Part VIII · Payment and Settlement Systems

60. Licensing and oversight

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

The Central Bank shall be responsible for the regulation, licensing, registration and oversight of payment, clearing and settlement systems as further specified in the

Payment and Settlement Systems Act, No. 28 of 2005 or any other written law relating to regulation, licensing, registration and oversight of payment, clearing and settlement systems.

(2)

The Central Bank may, by rules –

(a)

require the registration or licensing of any payment, clearing and settlement system or the operator of such system;

(b)

require any payment, clearing and settlement system or the operator of such system to observe such conditions and requirements as may be prescribed by the Central Bank; and

(c)

regulate and oversee the issuance of payment instruments.

(3)

Any employee of the Central Bank or any other qualified person nominated by the Central Bank, may conduct periodic examinations over payment, clearing and settlement systems and the participants of such systems, to examine such accounts, books, documents and other records, or to obtain such information or records of such systems and participants or to take such other action as the Central Bank may direct.

(4)

The payment, clearing and settlement systems, and their operators and participants, shall furnish the Central

Bank with such information and records as the Central Bank may require.

(5)

The Central Bank may disclose information and data obtained under subsection (3) or (4) in whole or in part in accordance with section 79.

Part IX

Supervision and Resolution of Financial Institutions

Read on from Part IX

Part X

Macroprudential Authority

Read on from Part X

Part XI

Financial System Oversight Committee

Read on from Part XI

Part XII

Information Exchange with Financial Sector Authorities

Read on from Part XII

Part XIII

Statistics and Information

Read on from Part XIII

Part XIV

Relationship with the Parliament, the Government and the Public

Read on from Part XIV

Part XV

Credit Operations

Read on from Part XV

Part XVI

Financial Provisions

Read on from Part XVI

Part XVII

Internal and External Audits

Read on from Part XVII

Part XVIII

General Provisions

Read on from Part XVIII

Part XIX

Repeals and Savings

Read on from Part XIX