Sri Lanka Consolidated Acts

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Payment And Settlement Systems Act (No. 28 of 2005) - Sect 27

Powers of the Central Bank in relation to the clearing system

27. 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.

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