Debits Tax Act 2002 · As enacted
15. Officers
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
Where any commercial bank, specialized bank, finance company or authorized dealer -
fails to comply with, or contravenes, any provision of this Act or any requirement imposed under this
Act or any regulation made under this Act ;
knowingly makes any false statement in, or knowingly omits any material particular from, any return or information furnished by such commercial bank, specialized bank, finance company or authorized dealer, that bank or finance company or that authorized dealer, as the case may be, shall be guilty of an offence under this Act and shall on conviction after summary trial before a Magistrate, be liable to a fine not exceeding one million rupees :
Provided however the Commissioner-General may compound the offence by imposing a penalty not exceeding one million rupees, which shall be credited to the Consolidated
Fund.
Any person who, holding an account in a commercial bank, opens a collection or special current account on the basis of a false declaration or acts in breach of an undertaking furnished at the time of opening the current account, shall be liable to pay to the Commissioner - General a sum not exceeding rupees one million plus twice the amount of the debits tax not recovered as a result of such action, as penalty, upon the issue of notice under section 10 of this Act.
Every person who contravenes the provisions of subsection (3) of section 14 shall be guilty of an offence under this Act and shall on conviction after summary trial before a
Magistrate, be liable to a fine not exceeding one hundred thousand rupees or to imprisonment for a term not exceeding six months.