Sri Lanka Consolidated Acts

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Banking (Amendment) Act (No. 39 of 1990) - Sect 3

Amended of section 79 of the principal enactment-

3. Section 79 of the principal enactment is hereby amended as follows :
(1) by the insertion immediately after subsection (1) of that section of the following new subsection:
(1A) Any person who contravenes the provisions of section 34B shall be guilty of an offence under this Act and shall on conviction, after summary trial before a Magistrate be liable to imprisonment of either description for a term not exceeding three years or to a fine not exceeding one million rupees or to both such imprisonment and fine, and where such offence is committed knowingly or willfully or with reason to believe that it will cause damage or harm to any other person, to rigorous imprisonment for a term of not less than five years and not exceeding ten years and to a fine of one million rupees or twice the amount, in Sri Lanka currency, of the amount revealed or divulged to be in such account: whichever is higher. " ; and
(2) in subsection (2) of that section, by the substitution, for the words ''under subsection (1) shall", of the words ''under subsection (1) or subsection (1A) shall".


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