Section No :  
1980 Revised version
EXCHANGE CONTROL
Marginal Notes
1. This Act may be cited as the Exchange Control Act.
2. Administration of Act by Central Bank.
3. Exercise of powers, amp c, under the Act.
4. Authorized dealers in gold or foreign currency.
5. Dealings in gold and foreign currency.
6. Surrender of gold and of specified foreign exchange. [ 2, 17 of 1971.]
6A. Possession of foreign currency. [3,17 of 1971.]
6AA. Accounts in foreign banks. [ 4, 17 of 1971.]
6AB. Foreign assets. [4, 17 of 1971.]
7. Payments in Sri Lanka. [ 3, Law 39 of 1973.]
8. Payments outside Sri Lanka.
9. Compensation deals-
10. Issue of securities.
11. Transfer of securities and coupons.
12. Issue of bearer certificates and coupons.
13. Substitution of securities and certificates outside Sri Lanka.
14. Payment of capital moneys outside Sri Lanka.
15. Duties of persons keeping registers.
16. Additional provisions as to nominee holdings
17. Special provisions as to dealings in prescribed securities-[ 5, 17 of 1971.1
18. Validation of certain transfers.
19. Application of Part III to secondary securities.
20. Interpretation of Part in.
21. Restriction on import.
22. Restriction on export,
23. Application of Customs Ordinance and Post Office Ordinance.
24. Duty to collect certain debts
25. Duty not to delay sale or importation of goods.
26. Property obtained by infringement of Act.
27. Provisions supplemental to preceding provisions of part V
28. Transfer of policies of assurance.
29. Settlements,
29A. Tourist services, shipping agencies and airline agencies. [ 5, Law 39 of 1973.)
29B. Prescribed services to be performed in accordance with conditions and requirements imposed by the bank. [ 5, Law 39 of 1973,1
29C. Restriction of appointment of certain companies and firms as agents or technical advisers in Sri Lanka. ( 5, Law 39 of 1973.]
30. Certain provisions relating to foreign companies. [ 6, Law 39 1973.]
31. Blocked accounts- [ 7, Law 39 of 1973.]
32. Branches.
33. Contracts.
34. Obligations under other written laws.
35. Legal proceedings, amp c.
36. Persons leaving Sri Lanka.
37. Determination of residence.
38. Directions to bankers, authorized dealers. amp c.
39. Furnishing of information and production of documents.[ 8, Law 39 of 1973.]
40. Search of premises,[10, Law 39 of 1973.]
41. Retention of seized articles.
42. Destruction, amp c, of documents, and false statements.
43. Application to state-
44. Exemptions,
45. Decisions of bank-
46. Appeals.
47. Finality of decisions.
48. Provisions relating to permission, consent or authority.
49. Burden of proof of permission.
49A. Presumption relating to foreign currency. [2,47 of 1957.]
49B. Admissibility of certain documents. [ 11, Law 39 of 1973,]
50. Indemnity for acts done in good faith.
50A. Duly of officers and servants to maintain secrecy. [ 2. 35 of 1956.]
51. Offences.
52. imposition of penalties by the bank. [ 14, Law 39 of 1973.]
53. Regulations,
54. Interpretation.