Legislative Enactments

 

Monetary System and the Central Bank

Monetary Law Act, No. 58 of 1949 (Incorporating Amendments up to 30th June, 2014)

An Act to establish the monetary system of Sri Lanka and the Central Bank to administer and regulate the system and to confer and impose upon the Monetary Board of the Central Bank powers, functions and responsibilities necessary for the purpose of such administration and regulation, and to provide for connected matters. This reprint which incorporates all amendments made to that Act up to 30th June, 2014 is, however, not a statutory reprint. It is only issued for purposes of convenience.

 

Banking

Banking Act, No. 30 of 1988

An Act to provide for the introduction and operation of a procedure for the licensing of persons carrying on banking business; for the regulation and control of matters relating to the business of banking; and to provide for matters connected therewith or incidental thereto.

 

Non Banking

Finance Business Act, No. 42 of 2011

An Act to provide for control and supervision of finance companies and to provide for matters connected therewith or incidental thereto. 

Finance Leasing Act, No.56 of 2000

An Act to provide for the regulation and monitoring of finance leasing businesses; to specify the rights and duties of lessors and lessees and suppliers of equipment; and for matters connected therewith or incidental thereto.

 

Micro Finance

Micro finance Act, No. 6 of 2016

An Act to provide for the licensing, regulation and supervision of companies carrying on microfinance business; the registration of non-governmental organizations accepting limited savings deposits as microfinance non-governmental organizations; for the setting up of standards for the regulation and supervision of microfinance non-governmental organizations and micro credit non-governmental organizations and to provide for matters connected there with or incidental thereto.

 

Foreign Exchange

Foreign Exchange Act No. 12 of 2017  (No. 2063/12 - March 19, 2018)

Regulations made under Section 29 read with Section 7 of the Foreign Exchange Act, No. 12 of 2017

Foreign Exchange Act No. 12 of 2017 (No. 2045/56 - November 17, 2017)

Regulations made under Section 29 read with Section 7 of the Foreign Exchange Act, No. 12 of 2017

Foreign Exchange Act No. 12 of 2017 (No. 2043/31 - October 31, 2017)

Foreign Exchange Act No. 12 of 2017 (No. 2040/43 - October 13, 2017)

Foreign Exchange Act No. 12 of 2017 (No. 2036/32 - September 14, 2017)

Foreign Exchange Act No. 12 of 2017  

An act to provide for the promotion and regulation of foreign Exchange; to vest the responsibility for promoting and Regulating foreign exchange in the central bank as the Agent of the government; to provide for the repeal of the Exchange control act (chapter 423); and to provide for Matters connected therewith or incidental thereto.

Exchange Control Act No. 24 of 1953 (Repealed with effect from 20.11.2017)

An Act to make provision conferring powers, and imposing duties and restrictions, in relation to gold, currency, payments, securities, debts, and the import, export, transfer and settlement of property, to authorise the Central Bank to administer the provisions aforesaid, and to provide for matters connected therewith.

 

Employee Provident Fund

Employees Porvident Fund (Amendment) Act, No 2 of 2012

An Act to amend the Employees Porvident Fund Act, No 15 of 1958

EPF Act No 15 of 1958 and Amendments ( Incorporating Amendments up to 31st December, 1998 )

An Act to establish a provident fund for the benefit of certain classes of employees and to provide for matters connected therewith or incidental thereto. Owing to the numerous amendments made to the Employees’ Provident Fund Act, it has become necessary to publish a reprint of the Act. This reprint which incorporates all amendments made to that Act up to 31st December, 1998 is, however, not a statutory reprint. It is only issued for purpose of convenience.

 

Other Legislative Enactments

Local Treasury Bills Ordinance No. 8 of 1923

An ordinance to provide for the borrowing of money by the issue of Treasury Bills in Sri Lanka.

Registered Stock and Securities Ordinance No. 7 of 1937 ( Incorporating Amendments up to 31st December, 2004 )

An ordinance to make provision for the creation and issue of registered stock, government promissory notes and bearer bonds for the purpose of raising loans in Sri Lanka.

Payment and Settlement Systems Act No 28 of 2005

An Act to provide for the regulation of payment, clearing and settlement systems; for the disposition of securities on the books of the Central Bank; for the regulation of providers of money services; for the electronic presentment of cheques; and to provide for matters connected therewith or incidental thereto.

Financial Transactions Reporting Act No. 6 of 2006

An Act to provide for the collection of data relating to suspicious financial transactions to facilitate the prevention, detection, investigation and prosecution of the offences of money laundering and the financing of terrorism respectively; to require certain institutions to undertake due diligence measures to combat money laundering and the financing of terrorism; to identify the authority which will be responsible for monitoring the activities of all institutions to whom this Act applies; and to provide for matters connected therewith or incidental thereto.