An Act to provide for the Resolution Authority of the Central Bank and the resolution measures that can be implemented by the Central Bank and the Government of Sri Lanka to resolve a licensed Bank subject to capital, liquidity, insolvency or any other risk in a timely manner; to revive such Bank as a going concern to ensure the interests of the depositors and creditors thereof ensuring the financial system stability; to provide for a deposit insurance scheme and winding up process for such licensed Banks; and to provide for matters connected therewith or incidental thereto.
Date of Commencement: On Notice.
See: Banking (Special Provisions) Act.
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