37.
| (1) The authorized capital of the Bank shall be two hundred million rupees. |
|
| (2)
| | (a) The amounts outstanding on the appointed date of the sums advanced to the Agricultural and Industrial Credit Corporation in terms of section 22 (1) of the Agricultural and Industrial Credit Corporation Ordinance together with the amount of the reserves of the Agricultural and Industrial Credit Corporation and the amount Standing to the Credit of the Reserve Fund of the Ceylon State Mortgage Bank on the appointed date shall form part of the capital of the Bank and all such amounts shall be deemed to be contributions to the capital of the Bank by the Government. | | |
| | (b) The Government shall, as soon as may be after the appointed date, make a contribution to the capital of the Bank so that the amount of such contribution together with the amounts referred to in paragraph (a) of this subsection shall be fifty million rupees. Such contribution by the Government shall be a charge on the Consolidated Fund. | | |
|
|
| (3) The Bank may, from time to time, raise such sums of money as further contributions to the capital of the Bank in such manner as the Bank deems fit from the Government or any other source whatsoever In or outside the Republic of Sri Lanka and where such sums of money are raised from the Government, they shall be a charge on the Consolidated Fund. |
|
| (4) The Bank may from time to time borrow from the Government, from the Central Bank, from any banking institution, from any foreign Government or from any other source whatsoever outside the Republic of Sri Lanka any sum of money on such terms and conditions are may be mutually determined. |
|
| (5) No contributions or borrowings from any foreign government or any other source outside the Republic of Sri Lanka under subsections (3) and (4) may be raised or made without the approval of the Minister. |
|
|
Sri Lanka Consolidated Acts