3.
| (1) An application for a licence shall be made in writing to the Monetary Board in such manner as may be determined by the Monetary Board. |
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| (2) Every application for a licence shall be accompanied by-
| | (a) a copy of the Memorandum and the Articles of Association of the company or the constitution of the company or any other document associated with the same : | | |
| | (b) a copy of the balance sheet and profit and loss account if any, of the company in respect of the year, preceding the year in which the licence is applied for; and | | |
| | (c) in the case of an application by a company incorporated outside Sri Lanka, an affidavit from the Chairman of such company supported by a resolution of its Board of Directors, stating that such company shall on demand by the Central Bank provide such funds as may be necessary to cover all obligations and liabilities incurred in the carrying on of banking business in Sri Lanka. | | |
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| (3) On receipt of an application under subsection (1) the Monetary Board may, where such Board considers it necessary, require the applicant to furnish such other documents or particulars, in order to determine whether, a licence should be issued or not. |
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| (4) No company incorporated in Sri Lanka under any written law shall make an application for the issue of a licence
| | (a) unless such company is registered as a public company; | | |
| | (b) unless the Memorandum of Association of the company sets out as the primary objects of such company, the carrying on of the business of accepting deposits of money subject to withdrawal on demand by cheque, draft, order or otherwise; and | | |
| | (c) if the Memorandum of Association of the company provides for the carrying on of any other form of business, unless the Memorandum of Association of the company limits such forms of business to one or more of the forms of business specified in Schedule II to this Act. | | |
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| (5) Any person who submits an application and other documents under subsections (1), (2) and (3) containing information which is to his knowledge false or misleading in any material particular, shall be guilty of an offence under this Act. |
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Sri Lanka Consolidated Acts