Sri Lanka Consolidated Acts

People's Bank Act (No. 29 of 1961)

TABLE OF PROVISIONS

           Long Title

   1.	   Short title  
   2.	   Establishment of the People's Bank  
   3.	   Seal of the Bank  
   4.	   Purposes of the Bank  
   5.	   Powers of the Bank  
   6.	   Principal place of business and branches and agencies of the Bank  
   7.	   Management of affairs and business of the Bank  
   8.	   Board of Directors  
   9.	   General body of the Bank  
   10.	   Chairman of the Board  
   11.	   Director to disclose his interest in any loan or other accommodation to be considered by the Board  
   12.	   Share capital of the Bank  
   13.	   Sale of shares  
   14.	   Liability of a shareholder  
   15.	   Sums to be granted or lent by Government to the Bank  
   16.	   Commencement of business by the Bank  
   17.	   Powers of the Permanent Secretary until commencement of business by the Bank  
   18.	   Acts commenced by the Permanent Secretary may be continued by the Board  
   19.	   Building Fund  
   20.	   The Bank to raise money by the issue of debentures for granting medium-term and long-term loans  
   21.	   Government guarantee  
   22.	   General Reserve and Special Reserve  
   23.	   Dissolution of the Co-operative Federal Bank of Ceylon, Limited  
   24.	   Power 'of Minister to dissolve a co-operative bank  
   25.	   Deposit of money and obtaining of long-term or medium-term loans by co-operative societies  
   26.	   Loans, overdrafts and other accommodation to be granted only in certain circumstances  
   27.	   Power of the Board to inspect valuation rolls of local rating or taxing authority  
   28.	   Registered address of borrower, &c  
   29.	   Default of payment  
   30.	   Certain provisions of the Agricultural and Industrial Credit Corporation Ordinance to apply in case of default of payment. Cap 402  
   31.	   [ 68,11 of 1963.]  
   32.	   Delegation of powers and duties of the Board,  
   33.	   Accounts  
   34.	   Audit  
   35.	   Documents to be transmitted to the Minister and the Minister of Finance to be laid before the Senate and the House of Representatives  
   36.	   Power of certain officers of the Bank to examine the books and accounts of any co-operative society to which, and of any other person to whom, a loan has been granted by the Bank  
   37.	   The Board's powers to recommend to the Commissioner of Co-operative Development the dissolution and liquidation of a co-operative society which, on the examination of its affairs under section 36, is found to be insolvent, &c  
   38.	   Offences  
   39.	   Punishment for offences  
   40.	   Offences by body of persons  
   41.	   Exemption from income tax and stamp duty. [ 57 (1). 18 of 1965.]  
   42.	   The Bank to be deemed to be a suitable person to manage and administer the affairs of certain co-operative societies. Cap. 124  
   43.	   Regulations  
   44.	   This Act to have effect notwithstanding the provisions of the Co-operative Societies Ordinance, Cap. 124  
   45.	   The provisions of the Companies Ordinance only to apply to the Bank if they are made applicable by Order of the Minister. Cap. 145  
   46.	   Amendment of the Co-operative Societies Ordinance  
   47.	   Repeal of Chapter 403  
   48.	   Interpretation