Words starting with C

crisis times

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

“means a period of time in which the financial system is unable to perform its key functions including intermediation of financial funds, management of risks, and settling of payments efficiently, and non-crisis times shall be construed …”

critical functions

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

“means activities performed by a licensed bank for and on behalf of third parties other than the licensed bank, where the failure to perform any such activities would lead to a disruption of banking services which are essential for the …”

critical shared services

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

“means activities performed by a licensed bank itself or outsourced to be performed by any third party service provider, where the failure to perform any such activities would lead to an inability on the part of the licensed bank to perform …”

cross-border data flow

Defined in Personal Data Protection Act 2022, s 56

“means, the movement of personal data out of the territory of Sri Lanka for the purpose of processing personal data in a third country”

currency

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

“means all currency issued and in circulation in accordance with the provisions of this Act”

Also defined in 2 other Acts

currency exchange

Defined in Payment and Settlement Systems Act 2005, s 18

“means receipt of revenues from the exchange of money issued, established, authorized or adopted by one government, or monetary value denominated in its monetary unit, for money issued, established, authorized or adopted by another …”

current account

Defined in Debits Tax Act 2002, s 19

“means — (a) an account (other than a savings account, a non resident currency account, a resident foreign currency account, an account in a foreign currency banking unit and a share investment external rupee account) whether in credit or …”

current transaction

Defined in Foreign Exchange Act 2017, s 33

“means any international transaction necessitating a transfer of foreign exchange into or from Sri Lanka, and referred to in paragraph (d) of Article XXX of the Articles of the International Monetary Fund set out in the Schedule to this Act”

custodian bank

Defined in Finance Act 2005, s 11

“means any Bank licensed by the Central Bank of Sri Lanka providing custody services in respect of share transactions”

customer

Defined in Payment and Settlement Systems Act 2005, s 10

“means in relation to a dealer direct participant, a transferor or transferee in a disposition, who is a securities account holder, other than a direct participant”

Customs duty

Defined in Tobacco Tax Act 1999, s 24

“means Customs duty charged and levied under the Customs Ordinance”