Sri Lanka Consolidated Acts

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Bank of Ceylon (Amendment) Law (No. 10 of 1974) - Sect 25

Insertion of new sections 69a to 69d in the principal enactment

25. The following new sections are hereby inserted immediately after section 69 of the principal enactment and shall have effect as sections 69a, 69b, 69c and 69d of that enactment: -
69A. Notwithstanding the provisions of section 10 of the Rubber Control Act the bank may lawfully possess a quantity of rubber in excess of the quantity prescribed under that Act.
69B. Notwithstanding the provisions of section 15 of the Tea Control Act, No. 51 of 1957, the bank may lawfully possess a quantity of made tea in excess of the quantity prescribed under that Act.
69C. Notwithstanding the provisions of section 17 of the Excise Ordinance the bank may lawfully possess a quantity of any excisable article in excess of the quantity declared under section 4 of that Ordinance to be the limit of sale by retail.
69D. The provisions of the Tea and Rubber Estates (Control of Fragmentation) Act, No. 2 of 1958, shall not apply to the transfer of ownership by the bank of any immovable property the sale of which is authorized by the board under section 19 of this Ordinance.".


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