Sri Lanka Consolidated Acts

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National Savings Bank Act (No. 30 of 1971) - Sect 85

Regulations

85.
(1) The Minister may make regulations for all matters for which regulations are authorized to be made under this Act.
(2) Every regulation made by the Minister shall be published in the Gazette and shall come into operation on such date as may be specified in the regulation or if no such date is so specified on the date of such publication.
(3) Every regulation made by the Minister shall be brought before the Senate and the House of Representatives as soon as may be after the publication thereof by a motion that such regulation be approved.
(4) Any regulation which the Senate or the House of Representatives refuses to approve shall be deemed to be rescinded but without prejudice to the validity of anything previously done thereunder. The date on which the regulation shall be deemed to be rescinded shall be the date on which the Senate or the House of Representatives refuses to approve the regulation.
(5) Notification of the date on which any regulation made by the Minister is deemed to be rescinded shall be published in the Gazette


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