7. The following new sections are hereby inserted, immediately after section 29 of the principal enactment, and shall have effect as sections 29A and 29B of that enactment :
| 29A. The Director of Bank Supervision may for the purpose of the continuous supervision of banking institutions
| | (a) require any commercial bank, and if so authorized by the Monetary Board any banking institution other than a commercial bank, to furnish from time to time and within such period as may be specified by him, such statement and information relating to the business or affairs of a commercial bank or a banking institution, as the case may be, as he may consider necessary to obtain for the purpose of ascertaining the true condition of the affairs of the commercial bank or the banking institution; | | |
| | (b) require the auditor of any commercial bank, and if so authorized by the Monetary Board of any banking institution other than a commercial bank, to furnish to him within such period as may be specified by him, any information in relation to an audit carried out by such auditor of the commercial bank or banking institution, as the case may be, as he may consider necessary to obtain for the purpose referred to in paragraph (a) ; and | | |
| | (c) examine or cause an examiner of his department to examine the books and accounts kept by any commercial bank, or other banking institution as he may deem necessary for the purpose of verifying the accuracy of any statement or information so furnished. | | |
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| 29B.
| | (1) The Director of Bank Supervision shall examine or cause an examiner of his department to examine the books and accounts of any subsidiary or agency of any commercial bank, or the books and accounts of any subsidiary or agency of any banking institution other than a commercial bank, if directions in that behalf are given by the Monetary Board, or the books and accounts of any society registered under the Co-operative Societies Law, No.5 of 1972, which carries on banking business, if directions in that behalf are given by the Governor. | | |
| | (2) The provisions of subsections (3), (4) and (5) of section 29 and sections 30, 31 and 32 of this Act shall, mutatis mutandis apply, to and in relation to, all or any of the institutions referred to in subsection (1) of this section. ". | | |
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Sri Lanka Consolidated Acts