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srilawsby aturio
As enacted
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Contents

Part II · Directions, Rules and Requirements on Finance Companies

14. Action on failure to comply with directions

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

(1)

If any finance company fails to comply with any direction issued under subsection (1) or (2) of section 12, the Director shall report such fact to the Board unless otherwise provided for in any guidelines issued under section 13 and the provisions in section 25 of this Act shall apply in such event.

(2)

If any finance company fails to comply with any direction issued by the Director in terms of the guidelines issued by the Board under section 13, the Director shall report such fact to the Board and the provisions in section 25 of this Act shall apply in such event.

Read on from s 15

Part III

Examinations and Supervisory Actions on Finance Companies

Read on from Part III

Part IV

Financial Statements and Audit of Finance Companies

Read on from Part IV

Part V

Regulatory and Resolution Actions on Finance Companies

Read on from Part V

Part VI

Insurance of Deposits

Read on from Part VI

Part VII

Action Against Persons Carrying on Finance Business or Accepting Deposits Without Authority

Read on from Part VII

Part VIII

Offences and Penalties

Read on from Part VIII

Part IX

General

Read on from Part IX