Sri Lanka Consolidated Acts

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Exchange Control (Amendment) Act (No. 17 of 1971) - Sect 5

Accounts in foreign banks

6AA.
(1) No person in, or resident in, Ceylon shall, except with the permission of the bank,-
(a) open an account with any bank or institution doing any kind of banking business outside Ceylon (hereinafter referred to as a " foreign bank ");
(b) continue to maintain, or operate on, an account which has already been opened in any foreign bank; or
(c) close an account with any foreign bank.
(2) Where an account maintained by a person in, or resident in, Ceylon with any foreign bank is closed, such person shall not dispose of the funds to his credit at such foreign bank at the time of closing of such account, except in accordance with such directions as may from time to time be given to him by the Central Bank.


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