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As enacted
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Part II · Resolution Measures

22. Termination of administratorship

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

An Administrator appointed for the purpose of resolution of a licensed bank shall cease to function as such

Administrator in the following situations, whichever occurs first: -

(a)

on completion of the term specified in the Order referred to in subsection (1) or (4) of section 18, as the case may be; or

(b)

where the Central Bank determines to terminate the term of such Administrator.

(2)

The Administrator shall, within twenty working days of the termination of the appointment under subsection (1), prepare and submit to the Central Bank a final report on activities of his administratorship.

Read on from s 23

Part III

Sri Lanka Deposit Insurance Scheme

Read on from Part III

Part IV

Financial Sector Crisis Management Committee

Read on from Part IV

Part V

Winding Up of Licensed Bank

Read on from Part V

Schedules