Public Service Mutual Provident Association (Amendment) Act (No. 15 of 1966)

Sri Lanka Consolidated Acts

Amendment of section 24 of the principal enactment

8. Section 24 of the principal enactment is hereby amended as follows : -

(1) by the renumbering of that section as subsection (1) of that section ;

(2) by the addition, immediately after the renumbered subsection (1) of that section, the following new subsection : -

	" (2) It shall be lawful for the committee of management to obtain bank loans by way; of overdrafts against securities for the accomplishment of the objects of the association " ; and

(3) by the substitution, for the marginal note that section, of the following new marginal note : -