Section No :

1980 Revised version BANK OF CEYLON Marginal Notes 1. This Ordinance may be cited as the Bank of Ceylon Ordinance. 2. Establishment of bank. 3. Incorporation of bank. 4. Central office. [ 2, Law 10 of 1974.] 5. Branches and agencies. 6. Board of directors of the bank.[ 3, Law 10 of 1974] 7. Capital. [ 2, 60 of 1980.] 8. Permanent reserve fund-[ 5, Law 10 of 1974.] 9. Contingency fund. [6.Law 10 of 1974.] 10. Government guarantee. [7,Law 10 of 1974.] 11. Disclosure of interest by a director. [ 8, Law 10 of 1974.] 12. Director to disclose any obligation to other banks and lending institutions. [ 9, Law 10 of 1974.] 13. Provisions relating to applications for loans, amp c, and their disposal. [ 10. Law 10 of 1974.] 14. Nominations by persons having a deposit or savings account.[ 11, Law 10 1974.] 15. Default of payment. [ 12, Law 10 of 1974.] 16. Action by board where default is made.[ 12, Law 10 of 1974.] 17. Authorization of manager to take possession of mortgaged property. [ 12, Law 10 of 1974.] 18. Procedure where manager is appointed. [ 12, Law 10 of 1974] 19. Authorization of sale of mortgaged property.[12, Law 10 1974.] 20. where borrower is dead.[ 12, Law 10 of 1974.] 21. Notice of resolution of mortgaged properly. [ 12, Law 10 of 1974.] 22. Notice of sale. [ 12, Law 10 of 1974] 23. Payment before sale. [ 12, Law 10 of 1974.] 24. Upset price. [ 12, Law 10 of 1974.] 25. Default in respect of one of several loans on same property. [ 12. Law 10 of 1974.] 26. Recovery of expenses and costs incurred by the bank [ 12, Law 10 of 1974.] 27. Payment of excess balance. [12, Law 10 of 1974.] 28. Certificate of sale. [12, Law 10 of 1974.] 29. Order for delivery of possession-[ 12, Law 10 of 1974] 30. Cancellation of sale. [ 12, Law 10 of 1974] 31. Resale by bank. [ 12, Law 10 of 1974.1 32. Board not precluded from other methods of recovery. [ 12, Law 10 of 1974.] 33. Minister to give directions. [3, 60 of 1980.] 41. Contracts. 42. Bills of exchange and promissory notes. 43. Persons authorized to act on behalf of the bank. 44. Execution of deeds abroad. 56. Appointment of staff. [ 16, Law 10 of 1974.3 57. Officers to furnish security. [17,Law 10 of 1974.] 58. Dismissal of general manager. [ 18, Law 10 of 1974.] 59. No liability for damage or loss caused otherwise than by misconduct or willful or default. 60. Reimbursement for incurred on behalf of the bank. [19, Law 10 of 1974.] 61. Declaration of secrecy. [ 20, Law 10 of 1974,] 62. Right to refuse to answer questions. 63. Receipts when valid. 64. Inspection of documents. [ 21, Law 10 of 1974.] 65. Application of the provisions of the Public Corporations (Financial Control) Act. [ 22, Law 10 of 1974.] 68. Money Lending Ordinance and Debt Conciliation Ordinance not to apply to debts due to the bank. [ 24, Law 10 of 1974.] 69. Pawnbrokers Ordinance not to apply to debts due to the bank. [ 24, Law 10 of 1974.] 69A. Bank may possess rubber in excess of quantity prescribed by Rubber Control Act. [ 25, Law 10 of 1974] 69B. Bank may possess tea in excess of quantity prescribed by Tea Control Act. [ 25, Law 10 of 1974] 69C. Bank may possess excise articles in excess of quantity declared to be limit of sale by retail. [ 25, Law 10 of 1974.] 69D. Tea and Rubber Estates (Control of Fragmentation) Act not to apply to transfer of property authorized to be sold under section 19. [ 25, Law 10 of 1974.] 70. Application of the Provision of the companies Ordinance. 71. Business which the bank transact. 72. By-taws of the bank. 74. Applications to the Minister. 76. Interpretation.