28. The following new section is hereby inserted immediately after section 48, and shall have effect as section 48A of the principal enactment.
| 48A. A licensed commercial bank shall not purchase or in any other way acquire any immovable property or any right therein, exceeding in the aggregate such percentage of its capital funds as may be determined by the Monetary Board from time to time, except as are reasonably required for the purpose of conducting it" banking business or of housing or providing amenities for its staff: |
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Sri Lanka Consolidated Acts