22.
| (1) The Central Bank may perform all or any of the following functions in relation to a designated clearing and settlement system and its clearing house :-
| | (a) the provision of a secured or unsecured guarantee of settlement by participants; | | |
| | (b) the making of liquidity loans to the clearing house and the central counter-party; and | | |
| | (c) acting as the central counter-party to the participants. | | |
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| (2) If the Central Bank is of the opinion that participation in a designated clearing and settlement system by a participant poses or is likely to pose, an unacceptable risk, to the financial system or an unacceptable risk to the Central Bank in guaranteeing settlement of that participant's obligations, the Central Bank may-
| | (a) suspend participation of that participant; or | | |
| | (b) prohibit it from being a participant; or | | |
| | (c) may require it to comply with such conditions, with respect to its participation, as the Central Bank considers necessary. | | |
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Sri Lanka Consolidated Acts