Sri Lanka Consolidated Acts

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Control Of Finance Companies Act (No. 27 of 1979) - Sect 15

Examination of books of accounts of Institutions

15.
(1) The Director of Bank Supervision of the Central Bank of Ceylon may at any time examine, or authorize any officer of his department to examine, the books and accounts of any Institution.
(2) The report on any such examination shall be furnished to the Governor of the Central Bank of Ceylon by the Director of Bank Supervision as soon as such examination is completed. The Director of Bank Supervision may recover the cost of such examination from the Institutions.
(3) It shall be lawful for the Director of Bank Super vision or any officer authorized by him-
(a) to administer in accordance with the Oaths Ordinance, oaths or affirmations to any proprietor, partner, director, manager, secretary or employee of any Institution;
(b) to require any proprietor, partner, director, manager, secretary or employee of any Institution to furnish all such information as the Director or any officer authorized by him may consider necessary to ascertain the true condition of the affairs of such Institution and whether such Institution is being conducted in a manner detrimental to its present or future depositors; and
(c) to require any proprietor, partner, director, manager. secretary or employee of any Institution to produce for inspection any books, records or other documents in his possession containing or likely to contain any necessary information.
(4) It shall be the duty of every proprietor, partner. director, manager, secretary or employee of any Institution to afford to the Director of Bank Supervision or any officer authorized by such Director access to all books and records of that Institution including its cash balances, its assets and liabilities whenever so requested by such Director.


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