2.
| (1) There shall be established a bank which shall be called the State Mortgage and Investment Bank (hereinafter referred to as the "Bank"), and which shall consist of the persons who are for the time being members of the Bank under section 3. |
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| (2) The purpose of the Bank shall be to assist in the development of agriculture, industry and housing, by providing financial and other assistance in accordance with the provisions of this Law. |
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| (3) The Bank shall be a body corporate having perpetual succession and a common seal and shall under the above-mentioned name be capable of suing and being sued; and shall subject to the provisions of this Law be capable of acquiring, holding, and alienating property movable and immovable and of doing all such acts and things as bodies incorporate may do and perform. |
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Sri Lanka Consolidated Acts