Common use of Scripless Securities Clause in Contracts

Scripless Securities. The scripless government securities are the securities issued in data entry form without a paper certificate. Initially, Treasury Bills and Treasury Bonds are issued in scripless form. To enable primary issues and recording of secondary market transactions of scripless securities, a computer based central depository and a settlement system have been installed. The transactions will be settled through an electronic settlement arrangement known as the Scripless Securities Settlement System (SSSS).The SSSS and the Central Depository System (CDS) are named as 'LankaSecure'. General Conditions

Scripless Securities. The scripless government securities are the securities issued in data entry form without a paper certificate. Initially, Treasury Bills and Treasury Bonds are issued in scripless form. To enable primary issues and recording of secondary market transactions of scripless securities, a computer based central depository and a settlement system have been installed. The transactions will be settled through an electronic settlement arrangement known as the Scripless Securities Settlement System (SSSS).The SSSS). The SSSS and the Central Depository System (CDS) are named as '‘LankaSecure'’. General Conditions