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srilawsby aturio
As enacted
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Part XII · General

70. Use of the words “credit”, “microcredit”, “lending”, “lenders” “moneylenders” and “microfinance” in business names

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

(1)

No person other than a licensed moneylender, or an institution exempted under subsection (3) of section 20 shall use as part of its name or its description, any of the words, “credit”, “microcredit”, “lending”, “lenders”

“moneylenders” or ‘’microfinance’’ or any of their derivatives, or transliterations, or their equivalent in any other language whether alone or in combination with any other word, without the prior written approval of the

Authority.

(2)

No person other than a licensed microfinance institution, or an entity exempted by subsection (1) of section 32 shall use as a part of its name or its description in its name, the word, “microfinance” or any of its derivatives or its transliteration or its equivalent in any other language whether alone or in combination with any other word, without the prior written approval of the Authority.

Read on from s 71

Part XIII

Transitional Provisions

Read on from Part XIII

Schedules