Regulatory Alerts2013-12-30 | Deposit Insurance and Liquidity Support SchemeSri Lanka Deposit Insurance and Liquidity Support Scheme Regulations (Amendment to 2010 Regulations)
The Central Bank of Sri Lanka’s Monetary Board has amended the 2010 Deposit Insurance Scheme Regulations to formally rename both the overarching scheme and its associated fund as the "Sri Lanka Deposit Insurance and Liquidity Support Scheme" and "Sri Lanka Deposit Insurance and Liquidity Support Fund," respectively. This amendment systematically updates cross-referenced terminology across regulations 3.1, 7.1, 9.7, and 10.5 to ensure consistent application of the new nomenclature throughout the statutory framework. The regulatory changes officially commenced on November 22, 2013, thereby aligning the legal framework with the expanded mandate to include liquidity support mechanisms alongside traditional deposit insurance.
0 flohr gdrnrC0, ol0d0,{ elndeloC fiaf er000 The Gazette of theDemocrffifffiiuli,tRepublic of srilanka EXTRAORDINARY q"a 1843/8 - 2Ot3 oqesl@Ob @ee 3O O1E esgqc _ 2OI3.LZ.3O No. 1843/8 -MONDAY DECEMBER 30, 2013 (Published by Authority) PART I : SECTION (I)
GENBRAL Central Bank of Sri Lanka Notices TIIE MONETARYLA\ilACT REGULATIONS made by the Monetary Board under Section 32E of the Monetary Law Act, (Chapter 422-). Nrvano Anru Lpsrm CaSRAAL, Chairmarq Monetary Board. ::ffif,ofSriLanka' ?.3'dDeember,2013. sriLanka Depositlnsurance and Liquidity support scheme Regulations Amendment to the Sri Lanka Deposit Insurance Scheme Regulations, No. I of 2010 I . I These Regulations shall be cited as Sri Lanka Deposit Insurance and Liquidity Support Scheme Regulations, No. 1 of20l3. 2.1 Sri Lanka Deposit Insurance Scheme Regulations, No. I of 2010 published.in Gazette Extraordinary No. 167311 I of28th September, 2010 is hereby amended as follows :_ 2.2 rn regtlation 3.1 thereof, by the substitution for the words "This scheme shall be titled sri Lanka Deposit Insurance Scheme" of the words "This Scheme shall be titled Sri Lanka Deposit Insurance and Liquidity Support Scheme (hereinafter referred to as "the Scheme,,),,. . 2.3In regulation 7. I thereof, by the substitution for the words "The Scheme shall have a fund titled ';Deposit Lesurance Fund" " of the words "The Scheme shall have a fund titled ,,Sri Lanka Deposit Insurance and Liquidify Support Fund"',. l. Citation 2. Amendments to the principal regulation This Gazette Extraordinary can be downloaded from www.documents.gov.lk IA
2A I oacOes ' (I) odqq: - 6 e.ro, gefcorcaJ$a es@ce5OcQ eSarde5ooi qB Sooeo ct16o <,:goo - 2013.12.30 Penr I : Src. (l) - GAZETTE EXTRAORDINARY OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA - 30.12.2013 r 2.4 In regulation 9.7 thereof, by the substitution for the words "Deposit Insurance Fund", and wherever those words oceur in these regulations, of the words "Sri Lanka Deposit Insurance and Liquidity Support Fund". 2.5 In regulation 10.5 thereof, by the substitution for the words "Sri Lanka Deposit Insurance Scheme", and wherever thoie words occur in these regulations, of the words "Sri Lanka Deposit Insurance iquidity Support Schsme". 3. Effective' dat e 3. 1 These amendments shall come into effect from 22nd November, 201 3 . 01 -4t7 PRINTEDATTHE DEPARTMENT OF GOVERNMENT PRINTING SRI LANKA.