Microfinance and Credit Regulatory Authority Act 2026 · As enacted · Part IV · Moneylenders
24. Renewal of a licence
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
A licensed moneylender (hereinafter referred to as the “moneylender”) who wishes to renew its licence shall be required to make an application for the same, not less than sixty days prior to the date of the expiry of the licence issued.
The application for the renewal of a licence shall be made in writing to the Director-General in such form, accompanied by such documents or information and a processing fee as may be set out in rules made in that behalf. The provisions of subsection (3) of section 22 of this
Act shall, mutatis mutandis apply to and in respect of the processing of such application.
An application made after the time specified in subsection (1) of this section may be accepted by the
Director-General up to thirty days before the date of expiry of the licence, subject to an administrative charge not exceeding rupees two million.
Where a licensed moneylender fails to apply for a renewal of a licence under subsections (1) and (2) of this section, such moneylender shall be prohibited from applying for a new licence within a period of one year from the date of expiry of the licence issued to him.
Part V
Microfinance Business
Part VI
Regulation of Moneylenders and microfinance institutions
Part VII
Examination of A Licencee
Part VIII
Customer Protection
Part IX
Investigation of Offences
Part X
Offences and Penalties
Part XI
Finance
Part XII
General
Part XIII