45.
| (1) The Control of Finance Companies Act, No. 27 of 1979, is hereby repealed. |
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| (2) Notwithstanding the repeal of the Control of Finance provisions. Companies Act, No. 27 of 1979 every notice, order, rule or direction issued, requirement imposed rule or delegation made under the repealed Act and in force on the day preceding the date of commencement of this Act shall in no far as such notice, order, direction, requirement, rule or delegation is not inconsistent with the provisions of this Act, be deemed to be a notice, order, direction, requirements, rule or delegation issued imposed or made as the case may be under the corresponding provisions of this Act. |
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| (3) Any action taken, order made or direction given under the Control of Finance Companies Act, No, 27 of 1988 read with the Control of Finance Companies regulations made under the Public Security Ordinance during the period commencing on June 16, 1988 and ending on the date of commencement of this Act shall be valid and effectual as if the Public Security Ordinance had authorized the making of those regulations. |
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| (4) No civil or criminal Proceedings shall be instituted or maintained or continued against the Board or any officer, servant or agent of the Board or any other person or authority for any act bona fide, done or omitted to be done by him during the period commencing on June 16, 1988 and ending on the date of commencement of this Act, in pursuance or supposed pursuance of the provisions of the Control of Finance Companies Act, No. 27 of 1979, read with the Control of Finance Companies regulations made under the Public Security Ordinance. |
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Sri Lanka Consolidated Acts