| 1.
| | This Act may be cited as the Finance Business Act, No. 42 of 2011. |
| 2.
| | Carrying on finance business and accepting deposits, without authority, to be an offence. |
| 3.
| | Non-application of provision of this Act to certain institutions. |
| 4.
| | Application for a license. |
| 5.
| | Licensing of companies as finance companies. |
| 6.
| | Licence fee. |
| 7.
| | Register of finance companies and publication of names of finance companies. |
| 8.
| | Exhibiting the licence of finance company. |
| 9.
| | Duty of finance company to notify Board of cessation of finance business. |
| 10.
| | Use of the word "finance". |
| 11.
| | Restriction on use of abbreviated name or acronym of a finance company. |
| 12.
| | Directions of the Board. |
| 13.
| | Monitoring the compliance with directions. |
| 14.
| | Action on failure to comply with directions. |
| 15.
| | Directions to submit documents and information. |
| 16.
| | Rules. |
| 17.
| | Core capital |
| 18.
| | Reserve Fund. |
| 19.
| | Carrying on business by finance companies. |
| 20.
| | Failure to repay deposit or pay interest to be an offence. |
| 21.
| | Disqualifications for holding certain posts in finance companies. |
| 22.
| | Declaration of assets and liabilities. |
| 23.
| | Transfer of dormant deposits to a special account in the Central Bank. |
| 24.
| | Examination of books and accounts etc of finance companies. |
| 25.
| | Procedure to be followed when Director is of opinion that finance company is following unsound practices. |
| 26.
| | Financial statements of finance company. |
| 27.
| | Balance sheet of finance company. |
| 28.
| | Income statement of finance company. |
| 29.
| | Transmission of balance sheet and income statement of finance company to the Director and publication. |
| 30.
| | Auditing of accounts. |
| 31.
| | Suspension. |
| 32.
| | Winding up. |
| 33.
| | Priority of claims in winding up. |
| 34.
| | Board may take over administration and management of a finance company. |
| 35.
| | Protection from suit. |
| 36.
| | Vesting of administration and management of finance company in person. |
| 37.
| | Cancellation of licence of a finance company. |
| 38.
| | Scheme of Insurance of Deposits. |
| 39.
| | Application for insurance of deposits. |
| 40.
| | Examination by authorized body corporate. |
| 41.
| | Rules relating to deposit insurance. |
| 42.
| | Investigation. |
| 43.
| | Court order to compel a person to provide information and books. |
| 44.
| | Issue of Freezing Order. |
| 45.
| | Confirmation of Freezing Order and impounding of passports. |
| 46.
| | Information of assets and liabilities of a person under investigation. |
| 47.
| | Police and Divisional Secretaries to provide information. |
| 48.
| | Prohibition of advertising soliciting deposits without authority. |
| 49.
| | Media institutions to verify before publishing advertisements soliciting deposits. |
| 50.
| | Publication of advertisements soliciting deposits without authority is an offence. |
| 51.
| | Action to be taken regarding wrongful gain. |
| 52.
| | Offences by a director, secretary, chief executive officer, manager, officer, employee or auditor of a finance company. |
| 53.
| | Offences by persons. |
| 54.
| | Hearing and decision on applications made under this Act. |
| 55.
| | Abetting to commit an offence is an offence. |
| 56.
| | Penalties. |
| 57.
| | Application of funds for payment of fine. |
| 58.
| |
Section - 58 |
| 59.
| | Fund. |
| 60.
| | Authority to represent and delegation of powers. |
| 61.
| | Maintenance of secrecy. |
| 62.
| | Finance companies and banks to inform the Director of persons carrying on finance business or accepting deposits without
authority. |
| 63.
| | Members of the Board, Director, authorized officers deemed to be public servants. |
| 64.
| | Director, authorized officers deemed to be public officers. |
| 65.
| | Offences to be cognizable and bailable. |
| 66.
| | Pre-condition for prosecution. |
| 67.
| | Providing temporary financial assistance and guarantees by the Board. |
| 68.
| | Directions of the Minister. |
| 69.
| | Regulation of the Minister. |
| 70.
| | Power to call for information to find out the whereabouts of a person. |
| 71.
| | Repeal and savings. |
| 72.
| | This Act to
prevail over
other laws. |
| 73.
| | Deposit. |
| 74.
| | Interpretation. |
| 75.
| | Sinhala text to prevail in case of inconsistency. |