17. In this Act unless the context otherwise requires " commercial bank " means any commercial bank within the meaning of the Monetary Law Act and includes every branch in Ceylon of a commercial bank; " current account "means -
| (a) an account (other than a savings account), whether in credit or otherwise, which is maintained in a commercial bank for any person and from which payments are made on demand made by him by cheque, draft, order or other instruction, and
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| (b) any internal account of a commercial bank from which payments are made for defraying any expenses of that bank, including expenses of a capital nature such as the cost of purchasing any immovable property or constructing any building;
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" debits " means entries made against a current account of any person in respect of the with- ' drawls of funds from that account by cheque, draft, order or other instruction of that person, and include the charges made by a commercial bank in the course of business to a current account maintained in that bank; " savings account " means an account which is maintained in a commercial bank and the funds deposited in which earn interest and the withdrawals of funds from which can be made only after such intervals as are specified, or subject to such rules as are made, by that bank; and " special current account " means a current account of any person maintained solely for the purpose of
| (a) depositing in that account funds received by him, in the course of his business, for and on behalf of any other persons for payment to those persons, and |
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| (b) making payments from the funds in that account to those persons. |
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Sri Lanka Consolidated Acts