Banking (Amendment) Act (No. 2 of 2005)

Sri Lanka Consolidated Acts

Amendment of section 86 of the principal enactment

40. Section 86 of the principal enactment is hereby amended as follows :-

(a) by the repeal of the definition of the expression "accommodation" and the substitution therefor of the following definition :-

(b) in the definition of the expression "capital funds" by the repeal of paragraph (b) thereof, and the substitution therefor of the following :-

	"(b) in the case of a licensed specialised bank, the equity capital and the reserve fund maintained pursuant to directions under subsection (1) of section 76J and includes reserves other than funds reserved for specified purposes;"; "

(c) by the repeal of the definition of the expression "company " and the substitution therefor of the following definition :-

(d) by the insertion immediately after the definition of the expression "Director of Bank Supervision" of the following definition :-

(e) by the repeal of the definition of the expression "substantial interest" and substitution therefor of the following definition:-