12.
| (1) The share capital of the Bank shall be six million rupees divided into one hundred and twenty thousand shares of fifty rupees each. The share capital may, however, be increased from time to time by such amount as may be determined by resolution of the House of Representatives. |
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| (2) The Board shall allot the Secretary to the Treasury, in his official capacity, sixty thousand fully paid-up shares, and he shall hold such shares for and on behalf of the Crown. |
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| (3) The Board shall cause the balance of the shares to be available for subscription by co-operative societies. |
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| (4) The Secretary to the Treasury shall pay for the shares allotted to him in his official capacity only the amount representing the difference between three million rupees and the sum due to the Government from the Co-operative Federal Bank of Ceylon Limited, under the Co-operative Federal Bank of Ceylon Ltd. (Financial Aid) Ordinance. Such amount shall be paid out of the Consolidated Fund of Ceylon. |
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Sri Lanka Consolidated Acts