Sri Lanka Consolidated Acts

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Post Office Savings Bank (Amendment) Act (No. 47 of 1958) - Sect 2

Amendment of section 10 of Chapter 191.[ 2, 47 of 1958.]

2. Section 10 of the Ceylon Post Office Savings Bank Ordinance, hereinafter referred to as the "principal enactment ", is hereby amended as follows : -
(a) by the renumbering of that section as subsection (1) of section 10 ; and
(b) by the addition, at the end of that section, of the following subsections : -
'(2) The trustees shall be a body corporate with the name " Trustees of the Ceylon Post Office Savings Bank " and shall have perpetual succession and may sue and be sued in such name and may adopt, alter, and use a corporate seal which shall be judicially noticed,
(3) The trustees may acquire, hold, take or give on lease or hire any immovable or movable property, and mortgage, pledge or sell or otherwise dispose of any property of the trustees.


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