National Development Bank Of Sri Lanka. Act (No. 2 of 2005)

Sri Lanka Consolidated Acts

Funds of the Bank

32.

(1) All sums of money received by the Bank or the Board of Directors-

	(a) as contributions towards the capital of the Bank;

	(b) in carrying out the purposes of the Bank;

	(c) in exercising and performing the powers and duties of the Bank or such Board ; and

	(d) in conducting the business and administration of the Bank, shall be credited to the funds of the Bank.

(2) All financial commitments or liabilities of the Bank or the Board of Directors arising from, or incurred in connection with-

	(a) the carrying out of the objects and purposes of the Bank;

	(b) the exercise and performance of the powers and duties of the Bank or such Board; and

	(c) the conduct of the business and administration of the Bank, shall be charged on the funds of the Bank.