Sri Lanka Consolidated Acts

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People's Bank Act (No. 29 of 1961) - Sect 9

General body of the Bank

9.
(1) There shall be a general body of the Bank consisting of the Secretary to the Treasury, the members of the Board and the persons elected by co-operative societies which are shareholders of the Bank to represent such societies in that body.
(2) Regulations may be made as to the number of persons who may be elected by co-operative societies which are shareholders of the Bank as their representatives in the general body of the Bank, the qualifications to be possessed by such persons and the procedure to be followed in the election of such persons.
(3) The general body of the Bank shall not be disqualified from performing the functions vested in it by this Act by reason only of the existence of any vacancy among its members.
(4) The Secretary to the Treasury, the ex officio director and the appointed directors shall not be entitled to vote on any motion or resolution before the general body of the Bank if such motion or resolution relates to the election, or removal from office, of a director.


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