30.
| (1) Where a clearing house fails to comply with the obligations imposed on it under this Chapter with respect to its clearing and settlement system or otherwise contravenes the provisions of this Chapter, the participants shall jointly and severally comply with those obligations and they shall be liable for the contravention of those obligations in the same manner and to the same extent, as the clearing house. |
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| (2) Where a clearing and settlement system does not have a clearing house located in Sri Lanka, the participants located in Sri Lanka -
| | (i) shall comply with the obligations imposed under this Chapter on a clearing house with respect to a clearing and settlement system; and | | |
| | (ii) shall have all the rights conferred by this Chapter on a clearing house with respect to a clearing and settlement system, | | |
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Sri Lanka Consolidated Acts