Sri Lanka Consolidated Acts

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Monetary Law (Amendment) (No. 32 of 2002) - Sect 23

Replacement of section 96 of the principal enactment

23. Section 96 of the principal enactment is hereby repealed and the following section substituted therefor :-
96. (1) The reserves required to be maintained by a commercial bank or a prescribed financial institution shall be calculated on such basis as may be prescribed by the Monetary Board.
(2) For the purposes of subsection (1) the principal office in sri Lanka of a commercial bank or a prescribed financial institution and the respective branches and agencies of such bank or financial institution shall be deemed to be one unit,'.

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