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srilawsby aturio
As enacted
Contents

Part II · Establishment of the Secured Transactions Registration Authority

10. Board of Directors of the Authority

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

(1)

The administration and management of the affairs of the Authority shall be vested in a Board of Directors (in this

Act referred to as the “Board”), consisting of the following members:-

(a)

the Governor of the Central Bank of Sri

Lanka, or a person nominated by him as his representative, who shall be the Chairperson of the Board;

(b)

the Secretary to the Treasury or a person nominated by him as his representative;

(c)

the Chairman and a Director of the Bureau or persons nominated by them as their representatives; and

(d)

the Registrar of the Authority appointed under section 16 of this Act.

(2)

The Board shall, for the purpose of administering and managing the affairs of the Authority, exercise, perform and discharge the powers, duties and functions conferred on, assigned to or imposed on, the Authority by this Act.

(3)

The Registrar of the Authority shall be the Secretary to the Board and shall be responsible for maintaining a record of the minutes of all meetings of the Board.

Read on from s 11

Part III

Creation of Security Rights and Rights of Parties

Read on from Part III

Part IV

Perfection

Read on from Part IV

Part V

Priorities

Read on from Part V

Part VI

Registration

Read on from Part VI

Part VII

General Provisions

Read on from Part VII

Part VIII

Repeals and Savings

Read on from Part VIII

Part IX

Interpretation

Read on from Part IX