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srilawsby aturio
As enacted
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Part II · Payment, Clearing and Settlement Systems and Money Services

27. Powers of the Central Bank in relation to the clearing system

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

The Central Bank shall have the power to do all or any of the following things in relation to a clearing and settlement system and its clearing house :

(i)

be a participant, participate and act as a central counter-party, including in a loss-sharing mechanism;

(ii)

act as a custodian of financial assets, or settlement agent, or both; and

(iii)

accept and pay interest on deposits from clearing house, a participant or the central counter-party.

Read on from s 28

Part III

Read on from Part III

Part IV

Miscellaneous Provisions

Read on from Part IV