Regulatory Alerts2023-02-17 | Banking Act Direction No. 02 of 2023Amendment to the Banking Act Directions No. 03 of 2022 on Margin Requirements Against Imports
The Central Bank of Sri Lanka issued Banking Act Directions No. 02 of 2023 to amend existing margin requirements for imports, effective immediately. The directive extends these margin obligations to sixty-four newly designated Harmonized System codes detailed in Annex I, while leaving the existing list unchanged. Importers must now comply with the updated margin thresholds for these specific goods upon their entry into force.
MONETARY BOARD CENTRAL BANK OF SRI LANKA 17 February 2023 BANKING ACT DIRECTIONS No. 02 of 2023
AMENDMENT TO THE BANKING ACT DIRECTIONS NO 03 OF 2022 ON MARGIN REQUIREMENTS AGAINST IMPORTS
Issued in terms of the powers conferred by Sections 46(1) and 76(J)(1) of the Banking Act No. 30 of 1988, as amended.
The provisions of the Banking Act Directions No 03 of 2022 on Margin Requirements Against Imports shall be applicable to the newly added 64 HS Codes specified in Annex I, with immediate effect.
The existing list of the HS Codes subject to Margin Requirement remains unchanged.
(Signature) Dr. P Nandalal Weerasinghe Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka
Annex 1
| No | New HS code |
|---|---|
| 1 | 040320 |
| 2 | 570321 |
| 3 | 570329 |
| 4 | 570331 |
| 5 | 570339 |
| 6 | 620120 |
| 7 | 620130 |
| 8 | 620140 |
| 9 | 620190 |
| 10 | 620220 |
| 11 | 620230 |
| 12 | 620240 |
| 13 | 620290 |
| 14 | 85171310 |
| 15 | 85171390 |
| 16 | 85171410 |
| 17 | 85171490 |
| 18 | 852581 (except for television cameras) |
| 19 | 852582 (except for television cameras) |
| 20 | 852583 (except for television cameras) |
| No | New HS code |
|---|---|
| 21 | 852589 (except for television cameras) |
| 22 | 853951 |
| 23 | 853952 |
| 24 | 94013190 |
| 25 | 94013990 |
| 26 | 94019190 |
| 27 | 94019990 |
| 28 | 94039190 |
| 29 | 94039990 |
| 30 | 94051110 |
| 31 | 94051190 |
| 32 | 94051910 |
| 33 | 94051990 |
| 34 | 94052110 |
| 35 | 94052190 |
| 36 | 94052910 |
| 37 | 94052990 |
| 38 | 940531 |
| 39 | 940539 |
| 40 | 94054110 |
| 41 | 94054120 |
| 42 | 94054130 |
| No | New HS code |
|---|---|
| 43 | 94054190 |
| 44 | 94054210 |
| 45 | 94054220 |
| 46 | 94054290 |
| 47 | 94054910 |
| 48 | 94054920 |
| 49 | 94054930 |
| 50 | 94054990 |
| 51 | 94055010 |
| 52 | 94055020 |
| 53 | 94055090 |
| 54 | 940561 |
| 55 | 940569 |
| 56 | 950821 |
| 57 | 950822 |
| 58 | 950823 |
| 59 | 950824 |
| 60 | 950825 |
| 61 | 950826 |
| 62 | 950829 |
| 63 | 950830 |
| 64 | 950840 |