19. Section 46 of the principal enactment is hereby amended as follows :-
| (1) by the repeal of subsection (1) of that section and the substitution therefor of the following subsection :-
| | "(1) In order to ensure the soundness of the banking system, the Monetary Board may issue directions to licensed commercial banks or for reasons to be stated in writing to any one or more of them regarding the manner in which any aspect of the business of such bank or banks is to be conducted and without prejudice to the foregoing, may, also issue directions specifying -
| | | (a) the class or classes of advances which may or may not be made by such bank; |
| (b) the margins to be maintained in respect of secured advances; |
| (c) the maximum amount of accommodation which having regard to the equity capital, reserves and deposits of such licensed commercial bank and other relevant considerations, as may be made by such bank-
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| (d) the maximum percentage of the share capital in a licensed commercial bank incorporated in Sri Lanka-
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| (2) by the repeal of subsection (4) of that section. |
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Sri Lanka Consolidated Acts