Sri Lanka Consolidated Acts

Payment And Settlement Systems Act (No. 28 of 2005)

TABLE OF PROVISIONS

           Long Title

   1.	   Short title date of operation  
   2.	   Objectives Act  
   3.	   Regulatory schemes to be in addition to other schemes and powers of the Central Bank under this Act  
   4.	   Responsibility of the Central Bank in relation to payment, clearing and settlement systems  
   5.	   Payment system policy  
   6.	   Securities accounts and securities account holders  
   7.	   Disposition of securities  
   8.	   Creditor Process  
   9.	   Dealers lien  
   10.	   Interpretation for Chapter 11  
   11.	   Central Bank to supervise &c service providers  
   12.	   Directive for money services and payment systems  
   13.	   Designated Payment Systems  
   14.	   Rules of designated payment systems  
   15.	   Directives for designated payment systems  
   16.	   Information obligations and compliance  
   17.	   Regulations for Chapter III  
   18.	   Interpretation for Chapter III  
   19.	   Designated clearing and settlement systems  
   20.	   Agreements with clearing house or participant  
   21.	   Directives  
   22.	   Powers of Central Bank  
   23.	   Insolvency proceedings  
   24.	   Settlement rules  
   25.	   Notice and information  
   26.	   Audits and inspections by the Central Bank  
   27.	   Powers of the Central Bank in relation to the clearing system  
   28.	   Termination of betting agreements  
   29.	   Central Bank may require proof of the existence of a clearing system  
   30.	   Responsibility of participants  
   31.	   Participation of foreign Banks  
   32.	   Interpretation for Chapter V  
   33.	   Electronic presentment of cheques for payment  
   34.	   Procedure on non-payment of an electronically presented cheque  
   35.	   Warranties and indemnity  
   36.	   Certain provisions of the Bills of Exchange Ordinance not to apply  
   37.	   Regulations to supersede agreements and arrangements  
   38.	   Action to be taken in case of failure to comply with the provisions of the Act, &c.,  
   39.	   Offences  
   40.	   Confidentiality of information and documents &c.,  
   41.	   Immunity  
   42.	   No designation or directive to be stayed in case of application for judicial review being made  
   43.	   Regulations  
   44.	   Central Bank to issue instructions &c,  
   45.	   Regulation &c, to be binding  
   46.	   This Act to prevail in case of inconsistency  
   47.	   Sinhala text to prevail in case of inconsistency