4. Section 11 of the principal enactment is hereby repealed and the following section substituted therefor:
| 11.
| | (1) A person shall be disqualified for appointment as the Governor of the Central as the Governor of the Central Bank if-
| | | (a) he is a Member of Parliament, or a member of any local authority; or |
| (b) he is a public officer or a judicial officer within the meaning of the Constitution of the Democratic Socialist Republic of Sri Lanka, or holds any office or position--'(other than an academic position) either by election or appointment, for which salary or other remuneration is payable out of public funds or the funds of any local authority; or |
| (c) he is a director, officer, employee, or shareholder of any banking institution (other than the Central Bank) . |
|
| | (2) A person shall be disqualified for appointment as a member of the Monetary Board under paragraph (c) of subsection (2) of section 8 if-
| | | (a) he is a Member of Parliament or a member of any local authority; or |
| (b) he is a public officer or a judicial officer within the meaning of the Constitution of the Democratic Socialist Republic of Sri Lanka, or holds any office or position (other than an academic position) either by election Or appointment for which he is in receipt of a salary or other remuneration paid out of public funds or the funds of any local authority; or |
| (c) he is a director, officer, employee or shareholder of any banking institution (other than the Central Bank) ,". |
|
|
|
|
Sri Lanka Consolidated Acts