Sri Lanka Consolidated Acts

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Banking (Amendment) Act (No. 33 of 1995) - Sect 29

Insertion of new section 49A in the principal enactment

29. The following new section is hereby Inserted immediately after section 49 and shall have effect as section 49A in principal enactment-
49A. Any licensed commercial bank which considers that it is, or is likely to be unable to meet its obligations or is about to become insolvent or is about to suspend payments due to depositors and other creditors, shall forthwith inform the Director of Bank Supervision of that fact".

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