Operational role of the Central Bank

(1) The Central Bank may provide facilities for a system to an operator or participant. (2) The Central Bank may, in order to facilitate its role pursuant to sub-section (1)– (a) establish, own, operate and participate in the ownership or operation of a system; (b) act as a central counter-party to participants; (c) hold accounts for an operator or participant, which may be used for the clearing and settlement of transfers into a system; (d) hold securities on accounts for an operator and participant, which may be used for the working of a system; 17 (e) extend intra-day credit, where it has been granted adequate collateral, to entities that are participating in a system; or (f) act as a central securities depository and authorize another entity to act as a central securities depository.