31.
| (1) Any loan granted by the Bank shall be on security and other terms and conditions as may be determined by the Board. |
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| (2) Notwithstanding anything contained in subsection (1), the Board may, in their absolute discretion, grant loans for, purposes as may be specified by the Monetary Board without security in any cases in which the Board, for reasons to be recorded by it in writing, decides having regard to the nature and scope of any scheme or the purpose for which such loan is granted, that such security is not necessary. |
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Sri Lanka Consolidated Acts