4, Section 6 of the principal enactment as amended by Act, No. 28 of 1995 is hereby further amended in subsection(1) of that Section, as follows :"
| (1) by the substitution for the words "provisions of this Act;", of the words "provisions of this Act and any other law including regulations made or directions issued thereunder,"; |
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| (2) in paragraph (a) of that subsection, by the substitution, for the words "savings accounts and the issue of savings certificates;", of the words "savings certificate or any other instrument or product that will enable the Bank to mobilise savings;"; |
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| (3) in paragraph (e) of that subsection, by the substitution, for the words "against, the security of their deposits;"; of the words "against the security of their deposits or any other security or guarantee as determined by the Board ;"; |
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| (4) in paragraph (f) of that subsection, by the substitution for the words "housing loans on security", of the words "housing loans or other loans for non commercial purposes on security"; |
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| (5) in paragraph (h) of that subsection, by the substitution, for the words "acquiring any immovable or movable properly", of the words "purchasing, taking on lease, exchange, hiring or otherwise acquiring, any immovable or movable property or any lights in such properly"; |
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| (6) by the repeal of paragraph (j) of that subsection, and the substitution therefor of the following paragraph :-
| | "(j) trading in financial instruments issued or guaranteed by financial institutions and quoted companies approved by the Board;"; | | |
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| (7) by the addition immediately after paragraph (j) of that subsection the following new paragraphs :-
| | "(k) providing re-finance facilities to licensed commercial banks and licensed specialised banks, for the purpose of medium and long term project lending; | | |
| | (l) issuing letters of guarantee against deposits; | | |
| | (m) borrowing monies from local and international credit institutions or agencies; | | |
| | (n) conducting lotteries and prize competitions; | | |
| | (o) investing in equity capital of any licensed commercial bank, licensed specialised bank, a subsidiary of any licensed commercial bank or licensed specialised bank or in any public company listed or seeking listing in a licensed stock exchange; | | |
| | (p) opening of rupee accounts for non residents; | | |
| | (q) collection and conversion of foreign currency from depositors; | | |
| | (r) providing safe custody and safe deposit locker facilities to customers; | | |
| | (s) undertaking pawnbroking business subject to such conditions as may be determined by the Monetary Board: | | |
| | (t) providing facilities for money transfers; | | |
| | (u) establishing subsidiary companies with the written approval of the Monetary Board; | | |
| | (v) undertaking trust and estate administration; | | |
| | (w) carrying on such other activities as may be incidental or conductive to the functions and activities referred to above.". | | |
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Sri Lanka Consolidated Acts