Sri Lanka Consolidated Acts

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Banking (Amendment) Act (No. 15 of 2006) - Sect 2

Amendment of section 19 of Act, No.30 of 1988

2. Section 19 of the Banking Act, No. 30 of 1988 (hereinafter referred to as "the principal enactment") is hereby amended by the repeal of subsection (3)(a) of that section and the substitution therefor of the following :-
"(3)
(a) The Monetary Board may, vary from time to time the amounts specified as the minimum amounts required to be maintained by a licensed commercial bank as equity capital under subsection (1) of this section, having regard to -
(i) the deposit liabilities or to the total liabilities including contingent liabilities or to the total assets or to any specified category of assets, of a licensed commercial bank; or
(ii) the viability and stability of the banking system and the interest of the national economy.".


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