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As enacted
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Contents

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

45. Confirmation of Freezing Order and impounding of passports

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

(1)

The Director after issuing a Freezing Order under the provisions of section 44 shall within the period during which the Freezing Order is in force, make an application to the High Court seeking confirmation of such Freezing Order and also if the circumstances so necessitates, request an extension thereto.

(2)

Where the High Court is satisfied that there are sufficient reasons for issuance of such Freezing Order, the court may confirm the Freezing Order and if it is satisfied there are sufficient reasons for extension thereof may grant extensions for such periods as it considers appropriate.

(3)

(a)

The Director may at any time where a person is investigated in terms of subsection (1) of section 42, make an application to the relevant Magistrate’s Court to impound the passport of such person so investigated.

(b)

In an event where the person investigated in terms of subsection (1) of section 42 is a body of persons, it shall be lawful for the Director to make an application or applications as may be necessary to impound the passport –

(i)

if that body of persons is a body corporate, of any director, or manager of the body corporate; and

(ii)

if that body of persons is a firm, of any partner of that firm; and

(iii)

if that body of persons is an unincorporate body other than a firm, of any member of such body, or any officer of that body responsible for its management and control.

Read on from s 46

Part VIII

Offences and Penalties

Read on from Part VIII

Part IX

General

Read on from Part IX