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srilawsby aturio
As enacted
Contents

Part II · Payment, Clearing and Settlement Systems and Money Services

25. Notice and information

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

Every clearing house shall, with respect to its designated clearing and settlement system, provide the

Central Bank with reasonable notice in advance of any significant change intended to be made by the clearing house in relation to the designated clearing and settlement system.

Without limiting the generality of the forgoing the clearing house shall give notice with respect to any change affecting—

(i)

any document including its Memorandum of

Association, and the relevant resolutions, agreements, rules and procedures relating to the formation, establishment, constitution, governance, administration and operation of the clearing house;

(ii)

the operation of the designated clearing and settlement system; or

(iii)

the agreements, rules, procedures, guidelines or other documentation governing the designated clearing and settlement system.

(2)

Every clearing house shall, forthwith after it makes any other change in relation to the designated clearing and settlement system, provide the Central Bank with written notice of the change, and, without limiting the generality of the foregoing, the notice shall provide information in respect of any change affecting—

(i)

the composition of the Board of Directors whether by resignation or otherwise; or

(ii)

the appointed auditor of the clearing house.

(3)

Every clearing house shall, with respect to its designated clearing and settlement system, provide the

Central Bank with such information, at such times and in such form, as the Central Bank may in writing require.

Read on from s 26

Part III

Read on from Part III

Part IV

Miscellaneous Provisions

Read on from Part IV