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As enacted
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Part XIII · Transitional Provisions

80. Persons carrying on the business of moneylending to continue business for twenty four months

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

(1)

Notwithstanding anything to the contrary in subsection (1) of section 20, any person carrying on a money lending business on the day preceding the appointed date-

(a)

may from the appointed date, continue to carry on such business for a period of twenty-four months; and

(b)

shall comply with the provisions of this Act and apply for a licence to continue his business as a licensed moneylender, after such date as may be specified by the Authority by notice published in the Gazette, calling for applications for licence under the Act.

(2)

The date specified by the Authority under paragraph (b) of subsection (1) shall not be later than twelve months from the appointed date.

Read on from s 81

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