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srilawsby aturio
As enacted
Contents

Part X · Macroprudential Authority

67. Powers of the Central Bank upon financial institutions

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

(1)

The Central Bank may exercise the following powers upon financial institutions:-

(a)

to directly collect relevant data or information;

(b)

to apply a macroprudential instrument according to section 66;

(c)

to conduct on-site inspections to verify data and information collected under paragraph (a), and verify compliance with the rules made under this

Act; and

(d)

to enforce such rules by applying the administrative measures indicated in section 107 of this Act to any financial sector participant that is not compliant, and ordering a financial sector participant to take, or refrain from taking, actions that are necessary to restore compliance.

(2)

The Central Bank shall have the power to collect relevant data or information directly from any person or institution in order to achieve its macroprudential objectives.

Read on from s 68

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