Regulatory Alerts2018-09-04 | Direction No. 8 of 2018Amendment to Direction on Finance Companies Structural Changes
The Monetary Board of the Central Bank of Sri Lanka issued Finance Business Act Direction No. 08 of 2018 to amend existing regulations for licensed finance companies. This directive formally deletes Direction 3.1 of the Finance Companies (Structural Changes) Direction No. 01 of 2013 dated 07th June 2013. The changes became effective immediately upon the issuance of this direction on 04 September 2018.
[Logo of the Central Bank of Sri Lanka]
MONETARY BOARD CENTRAL BANK OF SRI LANKA
04 September 2018 | FINANCE BUSINESS ACT DIRECTIONS | No. 08 of 2018
AMENDMENT TO DIRECTION ON FINANCE COMPANIES (STRUCTURAL CHANGES) DIRECTION NO. 01 OF 2013
In terms of the powers conferred by section 12 of the Finance Business Act, No. 42 of 2011, the Monetary Board hereby issues following Direction to delete the Direction 3.1 of the Finance Companies (Structural Changes) Direction No. 01 of 2013 dated 07th June 2013 issued for Licensed Finance Companies in Sri Lanka.
- Applicability and Scope | This Direction may be cited as Finance Business Act Direction No. 08 of 2018.
- Deletion | The Direction 3.1 of the Finance Companies (Structural Changes) Direction No. 01 of 2013 dated 07th June 2013 is hereby deleted.
- Implementation | These Directions shall be effective from the date of these Directions.
[Signature]
Dr. Indrajit Coomaraswamy Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka