413.
| (1)No company formed after the appointed date for the purpose of carrying on business as a banking company or which uses as part of the name under which it proposes to carry on business the word "bank", "banker" or "banking" shall be registered under this Act, unless the memorandum limits the objects of the company to the carrying on of the business of accepting deposits of money subject to withdrawal on demand by cheque, draft, order or otherwise along with some or all of the forms of business specified in section 411. |
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| (2) No company other than a banking company shall use as part of its name or its description any of the words " banks ", " banker " or " banking " or any other derivative or their equivalent in another language and no company shall carry on the business of banking in Sri Lanka unless it uses as part of its name at least one of such words: |
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| (3) No firm, individual or group of individuals shall, for the purpose of carrying on any business, use as part of its or his name or description any of the words " bank", " banker " or " banking " or any of their derivatives or their equivalent in another language. |
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| (4) No banking company incorporated in Sri Lanka, and no banking company incorporated outside Sri Lanka which has established a place of business within Sri Lanka, shall after the expiry of two years from the appointed date carry on any form of business other than those specified in section 411: |
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Sri Lanka Consolidated Acts