1. The Central Bank shall solely undertake oversight over operations of Financial Market Infrastructures, and ensure their soundness, in accordance with relevant international standards. For such purpose, the Central Bank may require the operators of such infrastructures or their Settlement Institutions to take required measures and procedures. 2. The Central Bank shall be responsible for monitoring the implementation of required additional oversight measures and procedures on Designated Infrastructures, licensed by any of the other Regulatory Authorities in the State, abroad, or in a Financial Free Zone in collaboration and coordination with the concerned regulatory authority, and may request in this regard from the concerned regulatory authority: a. Require operators of the Designated Infrastructures or their Settlement Institutions to comply with the instructions it issues in this respect and any relevant international standards. b. Ensure proper and regular functioning of Designated Infrastructures. c. Ensure soundness of financial positions of operators of such Designated Infrastructures and their Settlement Institutions, when deemed necessary. d. Require the operators of the Designated Infrastructures or their Settlement Institutions to provide it, with the information it deems appropriate for achievement of its objectives and discharge of its functions. 3. The Central Bank may appoint whoever it deems appropriate of experts and advisers specialized in Financial Market Infrastructures to assist the Central Bank in discharging its functions and duties in accordance with the provisions of Part IV of this decree-law, in order to keep in step with best international standards and practices in this area.
Interpretation and application must be checked against the official text and current version.