| 1.
| | This Act may be cited as the National Development Bank of Sri Lanka Act, No. 2 of 1979, and shall come into operation on a date (hereinafter referred to as the " appointed date ") to be appointed by the Minister by Order published in the Gazette. |
| 2.
| | Establishment of the National Development Bank of Sri Lanka. |
| 3.
| | Bank to be a body corporate |
| 4.
| | Head office and branch offices of the Bank. |
| 5.
| | Purposes of the Bank. |
| 6.
| | Powers of the Bank in carrying out its purposes. |
| 7.
| | Special powers of the Bank in relation to officers, delegations, contracted, &c. |
| 8.
| | Board of Directors. |
| 9.
| | Powers, functions, &c. of the Board of Directors. |
| 10.
| | Remuneration of Directors. |
| 11.
| | Director to disclose interest in contracts proposed to be made by the Bank. |
| 12.
| | Meetings of the Board of Directors, quorum and regulation of procedure. |
| 13.
| | Delegation of powers and duties of the Board of Directors. |
| 14.
| | Board of Directors may act despite a vacancy or defect. |
| 15.
| | Chairman of the Board of Directors. |
| 16.
| | Seal of the Bank. |
| 17.
| | Agency. |
| 18.
| | Appointment of Special Committees. |
| 19.
| | Remuneration of members of Special Committees. |
| 20.
| | Commencement of business. |
| 21.
| | Capital of the Bank. |
| 22.
| | Contributions to the capital of the Bank. |
| 23.
| | Liability of shareholders. |
| 24.
| | General borrowing powers of the Bank. |
| 25.
| | Borrowing from the Government. |
| 26.
| | Temporary borrowings from the Central Bank. |
| 27.
| | Borrowing from foreign Governments, &c. |
| 28.
| | National Development Bank Debentures and Stock. |
| 29.
| | Government to guarantee repayments, &c. |
| 30.
| | Government guarantee on foreign borrowings. |
| 31.
| | Administered Resources Fund. |
| 32.
| | Funds of the Bank. |
| 33.
| | Utilization of the profits of the Bank. |
| 34.
| | Exemption of Bank from income tax. |
| 35.
| | Registered address of borrower. |
| 36.
| | Security on which loans &c. may be granted by the Bank. |
| 37.
| | Default of payment. |
| 38.
| | Action by Board of Directors where default is made. |
| 39.
| | Authorization of manager to take possession of mortgaged property. |
| 40.
| | Procedure where manager is appointed. |
| 41.
| | Authorisation of sale of mortgaged property. |
| 42.
| | Where borrower is dead. |
| 43.
| | Notice of resolution of Board of Directors to sell mortgaged property. |
| 44.
| | Notice of sale. |
| 45.
| | Payment before sale. |
| 46.
| | Upset price. |
| 47.
| | Default in respect of one of several loans on same property. |
| 48.
| | Recovery of expenses and costs incurred by the Bank. |
| 49.
| | Payment of balance. |
| 50.
| | Certificate of sale. |
| 51.
| | Order far delivery of possession. |
| 52.
| | Cancellation of sale. |
| 53.
| | Re-sale by the Bank. |
| 54.
| | Financial year of the Bank. |
| 55.
| | Audit. |
| 56.
| | Documents to be transmitted to the Minister to be laid before Parliaments. |
| 57.
| | Agreement for Participation. |
| 58.
| | Application of this Part. |
| 59.
| | Participant contribution to the capital of the Bank. |
| 60.
| | Participants to be shareholders in Bank. |
| 61.
| | Liquidation. |
| 62.
| | Restriction of sale of shares of Participant. |
| 63.
| | Valuation of Participant's shares. |
| 64.
| | Payment for shares acquired by a shareholder. |
| 65.
| | Certain written laws not to apply to the Bank. |
| 66.
| | The Bank deemed to be a credit institution. |
| 67.
| | Officers of the Bank to furnish security. |
| 68.
| | No liability for damage or loss caused otherwise than by misconduct or wilful default. |
| 69.
| | Declaration of secrecy. |
| 70.
| | Right to refuse to answer questions. |
| 71.
| | Receipts when valid. |
| 72.
| | Contracts. |
| 73.
| | Bills of exchange and promissory notes. |
| 74.
| | Persons authorized to act on behalf of the Bank. |
| 75.
| | Execution of deeds abroad. |
| 76.
| | Rules. |
| 77.
| | Offences. |
| 78.
| | Special provisions relating to the shareholders. |
| 79.
| | Minister to give directions. |
| 80.
| | Interpretation. |