As enacted

Contents

Microfinance Act 2016 · As enacted · Part IV · Directions to and Rules Governing Licensed Microfinance Companies

12. Monitoring compliance with directions

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

(1)

The Board may issue guidelines to the Director on the manner of monitoring compliance with the directions issued under Section 11.

(2)

Where a licensed microfinance company fails to comply with any direction issued under section 11, the

Director shall, unless otherwise provided for in any guidelines issued under subsection (1), report such fact to the Board and thereupon the provisions of Section 17 of this Act shall apply accordingly.

Read on from s 13

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