Sri Lanka Consolidated Acts

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Control Of Finance Companies Act (No. 27 of 1979) - Sect 14

Limitation of loans and investments of Institutions

14.
(1) The Board may from time to time by directions-
(a) prohibit Institutions in general or any group or category of Institutions from increasing the amount of their or its loans and investments; or
(b) fix limits to the rate at which the amount of loans and investments made by Institutions specified in paragraph (a) may be increased within specified periods:
(2) A direction under subsection (1) may be applicable to all the loans and investments of any Institution referred to in that subsection or any specified class or classes of such loans and investments; so however, that such direction shall be applicable uniformly and without discrimination to all Institutions generally or to any group or category of such Institution.


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