Microfinance Act Rules No. 02 of 2016: Licence Fee — CBSL — LK

MONETARY BOARD
CENTRAL BANK OF SRI LANKA

27 October, 2016
MICROFINANCE ACT RULES
NO. 02 OF 2016

LICENCE FEE

Issued under Section 13(2) of the Microfinance Act, No. 6 of 2016.

Initial Licence Fee
1.1. The licence fee payable by a Licensed Microfinance Company (LMFC) in the year of licensing shall be Rupees Fifty Thousand (Rs. 50,000/-) and shall be paid to the Central Bank of Sri Lanka on or before the date of licensing.
Annual Licence Fee
2.1. Every LMFC shall pay an annual licence fee for every subsequent year to the year of licensing, to the Central Bank of Sri Lanka, on or before 31st January of the respective year, as set out below, based on the total assets of the company;

Total Assets as at end of the Previous Calendar Year	Annual Licence Fee (Rs.)
Rs. 250 million or below	50,000/=
Above Rs. 250 million up to Rs. 500 million	100,000/=
Above Rs. 500 million up to Rs. 750 million	150,000/=
Above Rs. 750 million up to Rs. 1.0 billion	200,000/=
Over Rs. 1.0 billion	250,000/=

[Signature]

Indrajit Coomaraswamy
Chairman of the Monetary Board
Governor of the Central Bank of Sri Lanka

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Issued under

Act No. 6 of 2016Not in RegAlert
“Issued under Section 13(2) of the Microfinance Act, No. 6 of 2016.”

Lineage: No known changes