15.
| (1) The Government shall-
| | (a) grant to the Bank out of the Consolidated Fund of Ceylon-
| | | (i) a sum of five hundred thousand rupees out of which the preliminary expenses connected with the establishment of the Bank, other than any expenses relating to the construction of buildings, shall be defrayed and any balance of which after such preliminary expenses are defrayed shall be disposed of as provided by subsection (4) of section 22; |
| (ii) two million rupees which shall be disposed of as provided by subsection (2) and subsection (5) of section 22; and |
| (iii) such sums as may be authorized by resolution of the House of Representatives to be granted out of the Consolidated Fund of Ceylon for the settlement of the bad and doubtful debts in excess of the assets of any co-operative bank which is dissolved under the provisions of this Act; and |
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| | (b) lend to the Bank such sums as may be authorized by resolution passed by the House of Representatives to be lent to the Bank out of the Consolidated Fund of Ceylon for the granting of long-term or medium-term loans by the Bank. | | |
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| (2) Every sum lent out of the Consolidated Fund of Ceylon to the Bank under paragraph (b) of sub-section (1) shall be repaid by the Bank in accordance with such terms and conditions as may be determined by the Minister with the concurrence of the Minister of Finance. |
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Sri Lanka Consolidated Acts