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srilawsby aturio
As enacted
Contents

Part III · Management of Licensed Microfinance Companies

10. General superintendence

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

(1)

The general superintendence and management of the affairs of a licensed microfinance company shall vest in the board of directors of the company, which shall manage the business and affairs of such company in good faith and in the best interest of its depositors, creditors and other stakeholders.

(2)

A licensed microfinance company shall maintain a register containing the names of members of the company, members of the board of directors and of the chief executive officer.

Part IV

Directions to and Rules Governing Licensed Microfinance Companies

Read on from Part IV

Part V

Financial Statements and Audit of Licensed Microfinance Companies

Read on from Part V

Part VI

Examination and Supervison of Licensed Microfinance Companies

Read on from Part VI

Part VII

Cancellation of the Licence and Winding Up of Licensed Microfinance Company

Read on from Part VII

Part VIII

Microfinance Non-Governmental Organizations

Read on from Part VIII

Part IX

Principles, Standards and Guidelines Laid Down by the Board

Read on from Part IX

Part X

Immunity from Prosecution

Read on from Part X

Part XI

General

Read on from Part XI

Schedules