3. Section 5 of the principal enactment is hereby amended as follows :
| (1) in paragraph (i) of that section, by the substitution, for the words " form of long term or medium term . loans", of the words "in the form of loans " ; |
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| (2) by the repeal of paragraph (vii) of that section, and the substitution, of the following paragraph therefor:
| | " (vii) to provide such services as management, technical, secretarial and administrative advice and merchant bank services, and to assist in obtaining management, technical, secretarial, administrative and merchant bank services, to or for, private, industrial, agricultural and commercial enterprises in Sri Lanka ;" ; | | |
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| (3) by the repeal of paragraph (xiii) of that section and the substitution, of the following paragraph therefor:
| | " (xiii) subject to such conditions as may be determined by the board of directors, to accept, discount, rediscount, buy, sell and deal in, bills of exchange, promissory notes, coupons, drafts, debentures, certificates, scripts, obligations and other instruments and securities, whether negotiable, transferable or not, of industrial, agricultural or commercial enterprises ;" ; | | |
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| (4) by the repeal of paragraph (xv) of that section, and the substitution, of the following paragraph therefor:
| | " (xv) to issue bonds and debentures, convertible or otherwise and to accept term deposits from any person in such amounts and on such terms and for such periods as may be determined by the board of directors ; " ; | | |
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| (5) by the renumbering of paragraph (xxii) of that section, as paragraph (xxiii) of that section ; and |
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| (6) by the insertion immediately after paragraph (xxi) of that section, of the following paragraph:
| | " (xxii) to guarantee, deferred payments due from, or the performance of any obligation by, any industrial, agricultural or commercial- enterprises ;". | | |
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Sri Lanka Consolidated Acts