47. Amendment of section 114 of the principal enactment

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Section 114 of the principal enactment is hereby amended as follows:—

(1)

in the definition of the expression “insurance agent”, by the substitution for the words “an individual”, of the words “a person”;

Act, No. 3 of 2011

(2)

in the definition of the expression “insurer” by the substitution for the words “company registered” in that definition of the words “person registered”;

(3)

by the insertion immediately after the definition of the expression “licensed commercial bank”, of the following new definition:—

“licensed stock exchange” means a stock exchange licensed under the Securities and Exchange

Commission of Sri Lanka Act, No. 36 of 1987;”;

(4)

by the insertion immediately after the definition of the expression “local authority security”, of the following new definition:—

“loss adjuster” means a person who has specialized knowledge in investigating and who is assessing losses arising from insurance claims and registered as a loss adjuster under the provisions of this Act.

(5)

by the repeal of definition of the expression

“Registrar of Companies”, and the substitution therefor of the following definition:—

“Registrar-General of Companies” means a person by name or by office appointed to be or to act as the Registrar-General of Companies under section 471 of the Companies Act, No. 7 of 2007

and includes any Deputy-Registrar General or

Assistant Registrar-General appointed under that section;”; and

(6)

in the definition of the expression “Securities

Exchange Commission of Sri Lanka” by the substitution for the words “Securities Exchange

Commission” wherever those words appear in that definition, of the words “Securities and Exchange

Commission of Sri Lanka”.

Act, No. 3 of 2011

Read on from s 48