Sri Lanka Consolidated Acts

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National Savings Bank Act (No. 30 of 1971) - Sect 20

Establishment of reserves

20.
(1) The Bank shall establish-
(a) a general reserve;
(b) an interest equalization reserve; and
(c) such other special reserves for such purposes as the Board thinks fit.
(2) After making allowance for the reserves of the Bank out of the net profits of the Bank for each financial year, such amount of such profits as shall be determined by the Board in consultation with the Minister shall be transferred by the Bank to the Consolidated Fund.

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