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srilawsby aturio
As enacted
Contents

Part I · Licensing of Companies Carrying on Microfinance Business

4. Licensing procedure

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

(1)

Every application for a licence shall be made to the Board in compliance with such requirements, in such form, accompanying such information and the evaluation fee as may be specified by the Board from time to time by rules made in that behalf.

(2)

The Board may, on receipt of an application under subsection (1), make such enquiries and call for such further information and documents as it considers necessary and on being satisfied that –

(a)

the applicant has complied with all the requirements laid down by the Board by rules made in that behalf;

and

(b)

the issue of a licence to the applicant would not be detrimental to the interests of its creditors and other stakeholders, it may issue a licence subject to such terms and conditions as the Board may think fit or, where it is not so satisfied, reject the application and issue such direction as it deems necessary.

Read on from s 5

Part II

Business Restrictions on Licensed Microfinance Companies

Read on from Part II

Part III

Management of Licensed Microfinance Companies

Read on from Part III

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