Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsFormer Directors of the Bank deemed to have administered the affairs of the Bank for and on behalf of the Government. Cap. 397
| 7. The Directors of the Bank during the period which commenced on the relevant date and ended on the day immediately prior to the date of commencement of this Act, shall be deemed to have, during that period,, carried on the business of the Bank for and on behalf of the Government, and accordingly any act or thing done by them under the Bank of Ceylon Ordinance during that period shall, save as otherwise expressly provided in this Part of this Act, be deemed not to have been, and not to be, null and void by reason only of the fact that the Government was the sole shareholder of the Bank. |