6. Section 5 of the principal enactment is hereby re- pealed and the following section substituted therefor:
| 5.
| | (1) In this Ordinance "approved credit agency" means-
| | | (a) a licensed commercial bank within the meaning of the Banking Act, No. 30 of 1988; |
| (b) the National Development Bank of Sri Lanka established by the National Development Bank of Sri Lanka Act, No. 2 of 1979; |
| (c) the State Mortgage and Investment Bank established by the State Mort-gage and Investment Bank Law, No. 13 of 1975 ; |
| (d) the Development Finance Corporation of Ceylon established by the Development Finance Corporation of Ceylon Act (Chapter 165) ; |
| (e) any company, or any co-operative society in respect of whom an Order has been made under section 6. |
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| | (2) Nothing in this Ordinance shall be deemed or construed to authorize any institution mentioned in paragraphs (b), (c) and (d) of subsection (1) to make loans or afford any credit facilities in consideration of the execution of trust receipts, if the power to make such loans or to afford such facilities is not conferred on such institution by the Ordinance providing for the establishment, powers and functions of such institution.". | | |
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Sri Lanka Consolidated Acts