4. Constitution of the Board

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

(1)

The Board shall consist of the following members :—

(a)

Deputy Secretary to the Treasury ;

(b)

a Deputy Governor of the Central Bank of Sri Lanka nominated by the Monetary Board ;

(c)

the Director-General of the Securities and Exchange

Commission of Sri Lanka ;

(d)

four members appointed by the Minister from among persons who have had academic or professional qualifications and experience in the field of insurance, commerce, financial management, business management, economics, law or any other related field (in this Act referred to as “appointed members”).

(2)

The Minister shall nominate one of the members of the Board as the Chairman of the Board.

(3)

The provisions of the Schedule to this Act shall have effect in relation to the term of office of the appointed members its of the Board, remuneration payable to members of the

Board, meetings and the Seal of the Board.

Read on from s 5

Part II