Sri Lanka Consolidated Acts

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Banking (Amendment) Act (No. 33 of 1995) - Sect 39

Amendment of section 86 of the principal enactment

39. Section 86 of the principal amended as follows:-
(1) by the repeal of the definition of the expression " capital funds", and the substitution, of the following definition therefor:- " capital funds " mean-
(a) in the case of a licensed commercial feast: the equity capital and the reserve fund as provided for in section 20 and includes reserves other than funds reserved for a specified purpose ; "and
(b) in the case of a licensed specialized bank to equity capital and the reserves of such bank other than funds reserves for a specified purpose; and
(2) by the insertion immediately after the definition the expression "head office of a commercial bank ", of the following new definition:


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