4. Section 3 of the principal enactment is hereby amended in subsection (2) of that section by the repeal of paragraph (c) of that subsection, and the substitution therefor of the following paragraph-
| (c) In the case of an application by a company or body corporate incorporated outside Sri Lanka, a written undertaking supported by a resolution ion of its Board of Directors, stating that such company or body corporate as the case may be shall on demand by the Central Bank, provide such funds as may be" necessary to meet all obligations and liabilities incurred in the carrying on of its business of banking in Sri Lanka, and a report containing such information as may be determined by the Monetary Board from the monetary authority of the country in which such company or body corporate was incorporated or formed as the case may be ;". |
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Sri Lanka Consolidated Acts