Sri Lanka Consolidated Acts

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Banking Act (No. 30 of 1988) - Sect 74

Publication of notice regarding abandoned property

74. Within thirty days from the submission of the report required by subsection (1) of section 73, the licensed commercial bank shall publish a notice In the Sinhala, Tamil and English daily newspapers stating the name of the owner and particulars concerning the property and shall despatch, by registered post a notice to the owner to his last known address containing particulars concerning the property, provided that the Monetary Board may exempt the licensed commercial bank from the mailing of such notice upon the licensed commercial bank showing reasonable cause therefor.


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