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Contents

Part II · Administation and Management of the Affairs of the Authority

9. Removal, resignation etc. of appointed members

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

(1)

Any appointed member of the Board may at any time, resign from his office by a letter to that effect, addressed to the Minister and such resignation shall be effective from the date on which it is accepted by the Minister in writing.

(2)

Where any appointed member by reason of illness, infirmity or absence from Sri Lanka is temporarily unable to discharge the functions of his office, the Minister may, having regard to the provisions of paragraph (b) of subsection (3) of section 5 appoint some other person to act in his place:

Provided that, no such appointment shall be made for a period exceeding three months. Upon the expiration of the said period of three months, if the illness, infirmity or absence from Sri Lanka still continues, such member shall cease to hold office from the date of expiration of such period.

(3)

The Minister may remove an appointed member from office for reasons assigned. An appointed member who has been removed from office shall not be eligible for re-appointment as a member of the Board or to serve the

Board in any other capacity.

(4)

Where an appointed member dies, resigns or is removed from office, the Minister may having regard to the provisions of paragraph (b) of subsection (3) of section 5 appoint another person in his place and the person so appointed shall hold office for the unexpired period of the term of office of the member whom he succeeds.

Part III

Director-General and The staff of the Authority

Part IV

Moneylenders

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

Transitional Provisions

Schedules