Words starting with N

need

Defined in National Medicines Regulatory Authority Act 2015, s 146

“refers to circumstances in which a product is necessary because it is essential or very important rather than just desirable”

negotiable bearer instrument

Defined in Financial Transactions Reporting Act 2006, s 33

“means a document representing ownership of debts or obligations, including bills of exchange, promissory notes or certificates of deposit, whether made payable to the bearer or not; Financial Transactions Reporting”

net claims outstanding

Defined in Regulation of Insurance Industry Act 2000, s 114

“means all claims advised by the assured and for which the insurer will be liable under a policy or policies of insurance, but which have not been settled, less reinsurance recoveries”

net premium

Defined in Regulation of Insurance Industry Act 2000, s 114

“means the balance of the gross premium after deduction therefrom of any premium paid or payable by the insurer for reinsurance ceded.”

net termination value

Defined in Payment and Settlement Systems Act 2005, s 32

“means the net amount obtained after setting off or otherwise netting the obligations between the parties to a netting agreement in accordance with the provisions of such agreement”

net unearned premium

Defined in Regulation of Insurance Industry Act 2000, s 114

“means the amount set aside as at end of a financial year of an insurer, out of premiums in respect of risks to be borne by such insurer after the end of such financed year, under a contract of insurance entered into, prior to the end of …”

Net worth of the Vested Bank or Banks

Defined in Regional Development Banks Act 1997, s 52

“means the value of the assets of the Vesting Bank or Banks vested in the acquiring bank by virtue of an order made under section 45 (excluding unrecoverable assets as determined by the auditor nominated under section 47) less the value of …”

netting

Defined in Banking (Special Provisions) Act 2023, s 93

“means determination of net claims or obligations after setting-off or adjusting all the claims or obligations based on or arising from mutual dealings between the parties to a contract”

netting agreement

Defined in Payment and Settlement Systems Act 2005, s 32

“means an agreement between two or more financial institutions or between the Central Bank and one or more financial institutions that provides for the netting or set off of present or future obligations to make payments against the present …”

network service provider

Defined in Electronic Transactions Act 2006, s 26

“means a person who owns, possesses, operates, manages or controls a public switched network or provides telecommunication services”

new villages

Defined in New Villages Development Authority for Plantation Region Act 2018, s 37

“means, the villages that are set up by replacing the existing line room housing in Estates with single houses and improved basic infrastructure facilities within those Estates”

Non Commonwealth Country

Defined in Mutual Assistance in Criminal Matters Act 2002, s 24

“means a country outside the Commonwealth and includes a colony, territory, protectorate or other dependency of such country, or a ship or aircraft registered in such country, and shall be deemed to include the Hong Kong Special …”

non governmental organisation

Defined in Right to Information Act 2016, s 43

“means any organization formed by a group of persons on a voluntary basis and receiving funds directly or indirectly from the Government or international organisations and is of a non governmental nature”

non statutory funds

Defined in Public Financial Management Act 2024, s 70

“means funds that are not established by law”

non-academic staff

Defined in Ocean University of Sri Lanka Act 2014, s 67

“means all the members of the staff other than the teaching staff of the University”

non-actionable subsidy

Defined in Anti-Dumping and Countervailing Duties Act 2018, s 85

“means a subsidy which is not subject to a countervailing duty as determined by the Director-General under subsection (2) of section 65 of this Act; Anti-Dumping and Countervailing Duties”

Non-Audit Staff

Defined in National Audit Act 2018, s 55

“means persons other than members of the Sri Lanka Audit Service and the Audit Examiners’ Service serving on the date immediately prior to the date of operation of this Act in the Auditor General’s Department and persons recruited by the …”

non-bank financial institutions

Defined in Banking (Special Provisions) Act 2023, s 93

“means finance companies licensed by the Monetary Board under the Finance Business Act”

non-financial assets

Defined in Public Financial Management Act 2024, s 70

“means produced or non-produced movable or immovable assets, including lands, buildings, structures, plant and machinery, vehicles, office equipment and furniture, and other assets declared as non-financial assets that are fully owned …”

non-governmental organization

Defined in Inland Revenue Act 2017, s 195

“means any organization or association, whether incorporated or unincorporated, formed by a person or a group of persons on a voluntary basis and which is non-governmental in nature, and established and constituted – (a) for the provision …”

non-intimate sample

Defined in Anti-Corruption Act 2023, s 162

“means— (a) a sample of head hair; (b) a sample taken from a nail or from under a nail; (c) a swab taken from any part, other than a private part, of a person’s body or from the mouth but not any other body orifice; (d) saliva; or (e) an …”

non-material terms and conditions

Defined in Petroleum Resources Act 2021, s 51

“mean, items that will not directly impact the evaluation results of the proposals”

non-resident

Defined in Colombo Port City Economic Commission Act 2021, s 75

“means a person other than a resident”

Also defined in 1 other Act

Non-Resident Foreign Currency Account

Defined in Debits Tax Act 2002, s 19

“means an account maintained at a commercial bank and designated as such by the Central Bank”

non-resident persons

Defined in Social Security Contribution Levy Act 2022, s 60

“means persons who are not resident persons under section 69 of the Inland Revenue Act…”

non-traditional goods

Defined in Inland Revenue Act 2017, s 195

“means goods other than black tea not in packet or package form and each packet or package weighing not more than one kilogram, crepe rubber, sheet rubber, scrap rubber, latex or fresh coconuts, or agricultural, horticultural or dairy …”

not resident

Defined in Inland Revenue Act 2006, s 217

“means not resident in Sri Lanka within the meaning of section 79”

note

Defined in Central Bank of Sri Lanka Act 2023, s 124

“means a currency note issued by the Central Bank, including a currency note issued or deemed to be issued by the Board of Commissioners under the Currency Ordinance…”

notice

Defined in Public Utilities Commission of Sri Lanka Act 2002, s 44

“means notice in writing”

Also defined in 2 other Acts

notice of change

Defined in Secured Transactions Act 2024, s 75

“means data included in any prescribed form required to be submitted to the Bureau, in order for a financing statement to be discharged or otherwise amended”