As enacted

Contents

Finance Business Act 2011 · As enacted · Part II · Directions, Rules and Requirements on Finance Companies

17. Core capital

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

(1)

The Board may, from time to time determine the minimum amount of core capital that a company shall have for licensing under this Act:

Provided however, such amount determined by the Board shall not be less than two hundred million rupees.

(2)

A finance company shall at all times maintain its core capital at a level not less than the amount it had at the time of being licensed as a finance company:

Provided however, that in the event the Board has issued a direction stipulating a higher amount of core capital or maintenance of core capital in relation to assets or liabilities of a finance company in terms of section 12 of this Act, a finance company shall maintain its core capital in conformity with such direction.

Read on from s 18

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