Recovery Of Loans By Banks (Amendment)(Special Provisions)

Link to law: http://www.lawnet.lk/process.php?st=1995Y0V0C24A&hword=%27%27&path=2
Published: 1995

Recovery of Loans by Banks (Amendment)(Special Provisions)
Recovery of Loans by Banks (Amendment)(Special Provisions)




AN ACT TO AMEND THE RECOVERY OF LOANS BY BANKS (SPECIAL PROVISIONS) ACT, NO. 4 OF 1990.








BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows: -



[16th November

, 1995 ]













Short title



1. This Act may be cited as the Recovery of Loans by Banks (Special Provisions) (Amendment) Act, No. 24 of 1995.



Amendment of section 22 of Act, No. 4 of 1990.



2. Section 22 of the Recovery of Loans by Banks (Special Provisions) Act. No. 4 of 1990, is hereby amended, by the substitution, for the definition of the word "bank " of the following definition:-



" bank " means-





(a) a licensed commercial bank within the meaning of the Banking Act, No. 30 of 1988, other than any bank established under the provisions of the Regional Rural Development Bank Act, No. 15 of 1985:



(b) the Development Finance Corporation of Ceylon established by the Development Finance Corpora-lion of Ceylon Act (Chapter 165) ; and



(c) the National Savings Bank established by the National Savings Bank Act, No. 30 of 1971.'.



Sinhala text to prevail in case of Inconsistency.



3. In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.
Read Entire Law on www.lawnet.lk