5.
| (1) On receipt of an application under section 3, the Monetary Board, having considered the documents and particulars accompanying such application, and having satisfied itself that the terms and condition of such licence will be observed by the applicant, shall, with the approval of the Minister, issue a licence to the applicant authorizing such applicant to carry on banking business in Sri Lanka |
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| (2) The licence shall specify
| | (a) whether the bank shall carry on domestic banking business or offshore banking business, or both such. business; and | | |
| | (b) the place or places or area within which any bank may carry on business | | |
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| (3) Every licensed commercial bank shall display a copy of the licence issued to it under subsection (1) in a conspicuous place within the premises of any such bank. |
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Sri Lanka Consolidated Acts