Sri Lanka Consolidated Acts

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Licensing Of Produce Brokers Act (No. 9 of 1979) - Sect 2

Prohibition of the carrying on of the business of a produce broker without a licence

2.
(1)The Minister may, by Order published in the Gazette, declare that, with effect from such date as shall be specified in the Order (hereafter referred to as the appointed date), no person shall carry on business as a produce broker except under the authority of a licence issued in that behalf by any appropriate authority under this Act.
(2) No licence shall be issued under this Act to any body corporate which is a company, unless it has been or is formed and registered under the Companies Ordinance.
(3)
(a) No licence shall be issued under this Act to any person who does not comply with the terms and conditions set out in the Schedule hereto.
(b) Where a licence has been issued to any person under this Act and such person acts in violation of any of the terms and conditions set out in the Schedule hereto, the appropriate authority may by order, suspend for any period specified in such order, or cancel, such licence.
(4) No licence shall be issued by any appropriate authority to any person under this Act, except upon the payment by such person to such authority of the prescribed fee.
(5) The Minister may, from time to time, by Order published in the Gazette, appoint any person, by name or by office, to be an appropriate authority for the purposes of this Act.
(6) Regulations may be made under this Act for and in respect of all or any of the following matters :
(a) subject to the provisions of this Act the circumstances in which licences may be granted or refused ;
(b) the person to whom and the period for which licences may be granted ;
(c) the mode and manner in which applications for licences may be made and disposed of ;
(d) the furnishing of all such statements and declarations relating to the business carried on by a produce broker as may be necessary for ensuring that the provisions of this Act or any regulations made thereunder are complied with ;
(e) the standards to be observed by produce brokers and the prohibition of act's or omissions in contravention of such standards.

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