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Part XIII · Transitional Provisions

81. Repeal of the Microfinance Act

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

(1)

The Microfinance Act, No. 6 of 2016 is hereby repealed.

(2)

Notwithstanding the repeal of the Microfinance Act,

No. 6 of 2016, every regulation, notice, Order, direction, rule, guideline or directive issued, requirement imposed, determination or delegation made thereunder and in force on the day preceding the appointed date shall in so far as such regulation, notice, Order, direction, rule, guideline, directive, requirement, determination or delegation is not inconsistent with the provisions of this Act, be deemed to be a regulation, notice, Order, direction, rule, guideline, directive, requirement, determination or delegation issued, imposed or made, as the case may be, under the provisions of this Act.

(3)

With effect from the appointed date, all examinations initiated, or supervisory measures taken under the repealed

Act and pending on the day immediately preceding the appointed date shall be deemed to be examinations conducted or being conducted or supervisory measures taken or being taken, as the case may be under this Act.

Read on from s 82

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