16.
| (1) No company other than a licensed commercial bank shall use as part of its name or its description any of the words " bank", " banker , or " banking" or any of its derivatives or its transliterations, or their equivalent in any other language and no licensed commercial bank shall carry on the business of banking in Sri Lanka, unless it uses as part of its name at least one of such words: |
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| (2) No firm, individual or group of individuals, shall for the purpose of carrying on any business, use as part of its or his name or description any of the words " bank", " banker " or " banking " or any of its derivatives, or its transliterations, or their equivalent in any other language |
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| (3) Nothing in this section shall apply to
| | (a) a subsidiary of a licensed commercial bank formed for one or more of the purposes mentioned in subsection (1) of section 17 of this Act; | | |
| | (b) any association of licensed commercial banks formed for the protection of their interests ; | | |
| | (c) a trade union registered under the Trade Unions Ordinance (Chapter 138) which is an association or combination of workers, who are employees of a banking institution within the meaning of section 127 of the Monetary Law Act, or of the Central Bank; | | |
| | (d) an agency, institution, person or body of persons which falls within the meaning of paragraphs (b) and (d) of the definition of " banking institution " contained in section 127 of the Monetary Law Act; | | |
| | (e) a company which, within one week of its incorporation, applies for a licence under section 2 and until such time as the decision of the Monetary Board in respect of the application is conveyed to the company ; | | |
| | (f) the representative office of a commercial bank incorporated or established outside Sri Lanka. | | |
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Sri Lanka Consolidated Acts