As enacted

Contents

Central Bank of Sri Lanka Act 2023 · As enacted · Part IX · Supervision and Resolution of Financial Institutions

62. Resolution authority of the Central Bank

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

Notwithstanding anything to the contrary in any other written law, the Central Bank shall be the authority responsible for the resolution of financial institutions:

Provided however, where the resolution involves public funds, such resolution decisions shall be taken in consultation with the Minister subject to the applicable laws.

(2)

The Central Bank may enter into agreements with foreign supervisors and resolution authorities for the exchange of information and cooperation in resolution planning and in the implementation of resolution measures.

(3)

The Central Bank shall carry out resolution planning and implement resolution measures on financial institutions in accordance with the provisions of this Act and other applicable laws.

Part X

Macroprudential Authority

Read on from Part X

Part XI

Financial System Oversight Committee

Read on from Part XI

Part XII

Information Exchange with Financial Sector Authorities

Read on from Part XII

Part XIII

Statistics and Information

Read on from Part XIII

Part XIV

Relationship with the Parliament, the Government and the Public

Read on from Part XIV

Part XV

Credit Operations

Read on from Part XV

Part XVI

Financial Provisions

Read on from Part XVI

Part XVII

Internal and External Audits

Read on from Part XVII

Part XVIII

General Provisions

Read on from Part XVIII

Part XIX

Repeals and Savings

Read on from Part XIX