Sri Lanka Consolidated Acts

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Banking (Amendment) Act (No. 33 of 1995) - Sect 45

Transitional provision relating to numbered accounts

45.
(1) Notwithstanding the repeal of Part IVA of the principal enactment by section 18 of this Act, the holder of a numbered account shall, "Within a period of two years commencing from such date as may be determined by the Monetary by Notification published in the Gazette, dose such amount and until the close of the account be entitled to operate that account;
(2) Where the owner of a numbered account fails in compliance with the provisions of subsection (1), to close such account within the period specified in that subsection, such account shall, from and after the date of expiry of that period, cease to enjoy the facilities granted to it by "virtue of it being a numbered account.


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