5.
| (1) There shall be an Authority who shall be known as the Official Authority of the Bank for the purpose of assisting the Bank in the exercise, discharge and performance of its powers, functions and duties under this Act or any other written law, In this Act referred to as the " Official Authority ". |
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| (2) The Postmaster-General-
| | (a) shall be the Official Authority; and | | |
| | (b) shall, in his capacity as that Authority and as that Authority only and by the name assigned to him in that capacity under this Act, be a corporation sole with perpetual succession and a common seal and may sue and be sued in his corporate name and shall, subject to the approval of the Board, be capable of acquiring, holding or alienating property, movable or immovable, and may appoint branch offices for the transaction of the business of the Bank. | | |
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| (3) The Official Authority shall, as agent of the Bank, exercise, discharge or perform, such powers, functions or duties of the Bank as are assigned or delegated to it by order, from time to time, made by the Board, and in the exercise, discharge or performance of such powers, functions or duties the Official Authority shall give effect to any directions which may, from time to time, be issued by the Board. |
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| (4) The Board may, from time to time, by order assign or delegate to the Official Authority any of the powers, functions or duties conferred or imposed on the Bank under this Act or any other written law. |
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| (5) Where the effect of any order of the Board under sub-section (4) is that any act or thing which may previously have been directly done by the Bank may be done by the Official Authority, or that any act or thing which may previously have been done by that Authority may be done directly by the Bank, the order may include such transitional provisions as to the parties by and against whom legal proceedings are to be instituted or continued, and such transitional powers, if any, as may appear to the Board to be expedient. |
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| (6) As respect matters for the time being falling within the scope of any assignment or delegation by the Board under this section, the following provisions shall have effect, except as between the Official Authority and the Bank, that is to say, any rights, powers and liabilities of the Bank, including suits or prosecutions, shall be treated as rights, powers and liabilities of that Authority, and that Authority only: and any reference to the Bank under this Act or any other written law, or in any contract or document, shall be construed accordingly, and legal proceedings shall be brought by and against that Authority accordingly to the exclusion of the Bank: |
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| (7) All powers, functions and duties which the Postmaster-General is empowered to exercise, discharge and perform under this Act or any other written law in his capacity as the Official Authority may be performed and exercised by any officer of the department of the Postmaster-General, or by any sub-postmaster, generally or specially authorized thereto in writing by the Postmaster-General in his capacity as that Authority, subject to his direction and control, for such period and to such extent, if any, as may be specified in such written authority. |
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| (8) It shall be deemed at all times to have been, and to be, a condition of the employment of a member of the public service (including the Postmaster- General) that, in the event of his having been or being so employed in the department of the Postmaster- General, he was, and is, liable, whether with or with out his consent, to exercise, discharge and perform any power, function and duty referred to in sub-section (7) which he is generally or specially authorized in writing to exercise, discharge and perform by the Postmaster-General in his capacity as the Official Authority, being a power, function and duty which he would have been liable to exercise, discharge and perform but for the repeal by this Act of the Ceylon Savings Bank Ordinance, the Ceylon Post Office Savings Bank Ordinance and the Savings Certificates Ordinance. |
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Sri Lanka Consolidated Acts