57.
| (1) The Board of Directors is hereby authorized to conclude an Agreement with any international or regional financial institution for participation by such institution in the business of the Bank; and where such Agreement is concluded, such institution shall become a Participant for the purposes of this Act with effect from such date as may be specified in that behalf in the Agreement. |
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| (2) Any Agreement referred to in subsection (1) may contain such convenants and conditions as the Board of Directors may consider necessary, in addition to the provisions required or authorized by this Act to be contained therein. |
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| (3) All rights or powers exercisable under or for the purposes of this Act by a Participant may be exercised on behalf of the Participant by such person or persons, and in such manner, as may be specified in that behalf in the Agreement, and if so exercised, shall be deemed for the purposes of this Act to have been duly exercised by the Participant. |
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Sri Lanka Consolidated Acts