48.
| (1) Notwithstanding anything contained in any other written law or in any contract, no licensed commercial bank shall directly or indirectly deal in the buying or selling or bartering of goods, except in connection with the realization of security given to or held by it, or engage In any trade, or buy, sell or barter goods for others, otherwise, than in connection with bills of exchange received for collection or negotiation or with such of its business as is referred to in Schedule II or in any other law or in the Bank at Ceylon Ordinance (Chapter 387) or in the People's Bank Act, No. 29 of 1961, where the provisions of these enactments are applicable. |
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| (2) The provisions of the preceding subsection shall not apply to any such business as aforesaid, which was being carried on by a bank on the appointed date: |
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Sri Lanka Consolidated Acts