Sri Lanka Consolidated Acts

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National Development Bank Of Sri Lanka. Act (No. 2 of 2005) - Sect 78

Special provisions relating to the shareholders

78.
(1) Notwithstanding the provisions of sections 117 and 118 of the Monetary Law Act, Central Bank is hereby to subscribe to the capital of and to purchase, guarantee or accept as security, any shares, stock, debentures, promissory notes or other securities issued by the Bank.
(2) Notwithstanding anything to the contrary in any other written law the Bank of Ceylon and the People's Bank are hereby authorized to subscribe to the capital of the Bank.

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