3. Section, 11 of the principal enactment Is hereby. repealed and the following new section substituted therefor: -
| 11. A person shall be disqualified for appointment as the Governor of the Central Bank, or as a member of the Monetary Board under paragraph (d) of section 8 (2), if-
| | (a) he is a Member of Parliament or a member of any local authority; or | | |
| | (b) he is a state officer or a Judge within the meaning of the Constitution of the 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 the funds of the Republic 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). ". | | |
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Sri Lanka Consolidated Acts