17.
| (1) On or after the diffusion of the shareholding of ,the Central Bank under section 20, there shall be a general body of the Bank consisting of twelve persons nominated by commercial banks incorporated or established in Sri Lanka under any written law, or elected, by co-operative societies which are shareholders of the Bank to represent such banks and societies in the general body of the Bank. |
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| (2) The Board may determine-
| | (a) having regard to the shareholding the number of persons who may be nominated by such commercial banks or elected by co-operative societies under subsection (1) of this section ; | | |
| | (b) the qualifications required, for nominated or elected ; and persons to be so | | |
| | (c) the procedure to be followed in the election of such persons to the general body of the Bank. | | |
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| (3) The general body of the Bank shall not be disqualified from performing the functions vested in it by this Act by reason any of the existence of any vacancy among its members. |
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Sri Lanka Consolidated Acts