Parliament of Sri Lanka - Payment and Settlement Systems Act, No 28 of 2005


The Parliament of Sri Lanka’s Payment and Settlement Systems Act, No. 28 of 2005 is an act to provide for the regulation of the payment, clearing and settlement systems in the country, as well as the disposition of securities on the books of the Central Bank, providers of money services and the electronic presentment of checks. The act designates the Central Bank as the authority responsible for the preparation of a plan for a national payment system and providing guidance and leadership for the establishment and development of payment, clearing and settlement systems in Sri Lanka. The act is divided into several parts, and covers the following topics:

1. The National Payment System
2. Securities Accounts
3. Money Services and Payment Systems
4. Clearing and Settlement Systems
5. Electronic Check Presentment

Document Details

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Tuesday, September 20, 2005
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Parliament of Sri Lanka
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