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Section No :
Acts & Ordinances
FOREIGN EXCHANGE ACT
This Act may be cited as the Foreign Exchange Act, No. 12 of 2017 and shall come into operation on such date as the Minister may by Order published in the Gazette appoint (hereinafter referred to as "the appointed date").
Central Bank to be responsible for implementation of the Act.
Discharge of powers, duties and functions by the Central Bank.
Authorized dealers and restricted dealers.
Foreign exchange or foreign assets held or owned by a person in or resident in Sri Lanka.
Regulation of certain transactions.
Guidelines and directions.
Investigations of foreign exchange transactions and foreign assets.
Failure to comply with a provision of the Act or any Regulation, Order, Direction, Guideline & etc. made or issued thereunder.
Investigations and Inquiries to be concluded within six months.
Board of Inquiry.
Liability of bodies corporate or unincorporated.
Recovery of sums due to Government.
Provisions relating to permission, consent or authority.
Burden of proof of permission.
Presumption relating to foreign currency.
Admissibility of certain documents.
Indemnity for acts done in good faith.
Duty of officers and servants to maintain secrecy.
Preservation of financial stability.
Expenses in suit or prosecution to be paid out of the Consolidated Fund.
Obligations under other written laws.
Amendment of Schedules by Resolution of Parliament.
Publication of Orders in daily newspapers.
Repeal and Savings.
Currency, securities etc.
Sinhala text to prevail in case of inconsistency.
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