59.
| (1) Subject to the provisions of subsection (3), a Participant shall make an initial contribution to the capital of the Bank of such amount as may be specified in the Agreement referred to in section 57 (1) to which he is a party or, if it is not so specified, as may be determined by the Board of Directors. |
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| (2) Subject to the provisions of subsection (3), where any further amount is contributed by the shareholders to the capital of the Bank, a Participant may make a further contribution to the capital of the Bank of such amount as may be determined by the Board of Directors. |
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| (3) The provisions of subsections (1) and (2) shall be subject to the following limitations and conditions, namely-
| | (a) that, where there is only one Participant his initial contribution under subsection (1), or the total sum of his contributions under subsections (1) and (2), to the capital of the Bank, shall not exceed forty-nine per centum of the capital for the time being of the Bank.; or | | |
| | (b) that, where there are two or more Participants, the total sum of their initial contributions under subsection (1), or the total sum of their contributions under subsections (1) and (2), to the capital of the Bank shall not exceed forty-nine per centum of the capital for the time being of the Bank. | | |
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Sri Lanka Consolidated Acts