19.
| (1) Where the Central Bank is of the opinion that a clearing and settlement system may be operated in such a manner as to pose a risk to the financial system of Sri Lanka, the Central Bank may designate the clearing and settlement system as a systemically important clearing and settlement system which is subject to the provisions of this Chapter. |
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| (2) The Central Bank shall in writing, notify a designated clearing and settlement system's clearing house of the designation and shall cause a copy of the designation to be published in the Gazette. The designation shall be effective as from the date of the making of the relevant notification. |
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| (3) Designation of a clearing and settlement system as systemically important under Chapter IV of this Part of the Act may be in addition to the designation of the same system as a payment system which is subject to additional regulation, supervision and monitoring under Chapter III of this Part of this Act: |
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Sri Lanka Consolidated Acts