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As enacted
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Part II · Markets and Market Institutions

56. Duties of a central depository

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

(1)

A central depository shall –

(a)

operate a safe, effective and efficient system for the handling of securities;

(b)

manage any risks associated with its business and operations prudently; and

(c)

act in the public interest having particular regard to the need for the protection of account holders.

(2)

Notwithstanding the provisions of any other written law, it shall be the duty of a director of a central depository to act at all times in the public interest having particular regard to the need for the protection of account holders, and where there is a conflict between such duty and a director’s duty under the provisions of any other written law the duty under this Act shall prevail.

Read on from s 57

Part III

Issue of Securities

Read on from Part III

Part IV

Trade In Unlisted Securities

Read on from Part IV

Part V

Market Misconduct

Read on from Part V

Part VI

Finance

Read on from Part VI

Part VII

General

Read on from Part VII