Sri Lanka Consolidated Acts

Finance Companies Act (No. 78 of 1988)

TABLE OF PROVISIONS

           Long Title

   1.	   Short title  
   2.	   Registration of finance companies under this Act  
   3.	   Transitional provision regarding carrying on of finance business by persons or body of persons not registered under this Act  
   4.	   Unimpaired capital to be maintained by finance companies  
   5.	   Conduct of business by finance companies,  
   6.	   Register of finance companies,  
   7.	   Issue of licence to finance companies  
   8.	   Duty of finance company to notify Monetary Board of cessation of finance business  
   9.	   Directions of the Board  
   10.	   Procedure where Director is of opinion that finance company is following unsound practices  
   11.	   Director or authorized officer to require production of books for examination  
   12.	   Power of Director to examine book and accounts of finance company  
   12A.	   Board to allow company to state imposition before taking action against it on a report made under section 12 or section 18  
   13.	   Accounts of finance Company  
   14.	   Balance sheet of finance company  
   15.	   Profit and loss account  
   16.	   Publication of balance sheet and profit and loss account of finance company  
   17.	   Auditing of accounts,  
   18.	   Winding up  
   19.	   Failure to furnish information an offence  
   20.	   Board may-take over administration and management of a finance company  
   21.	   Providing of temporary financial assistance by the Board  
   22.	   Power of Board to vary contracts entered into by Finance Companies, the administration of which it has taken over  
   23.	   Protection from suit  
   24.	   Vesting of finance companies in statutory board  
   25.	   Steps to be taken upon the Director making a report under section 18  
   26.	   Power of Director to issue directions in respect of connected matters  
   27.	   Insurance of deposits  
   28.	   Application to be made to Central Bank for insurance of deposits  
   29.	   Rules relating to deposit -insurance  
   30.	   Non-application of provision of Act to certain institutions  
   31.	   Transfer of dormant deposit to special account in central Bank,  
   32.	   Disqualifications for holding certain posts in finance companies  
   33.	   Rules  
   34.	   Directions  
   35.	   Offences  
   36.	   Offences by body of persons  
   37.	   Publication of persons contravening the provisions of this Act  
   38.	   Penalties  
   39.	   officer of Central Bank of Sri Lanka deemed to be public officers  
   40.	   compounding of offences  
   41.	   Cancellation of licence of finance companies  
   42.	   Delegation  
   43.	   Provision for appeals from certain orders  
   44.	   protection from suit  
   45.	   Repeal and transitional provisions  
   46.	   Interpretation