9. Amendment of section 11 of the principal enactment

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Section 11 of the principal enactment is hereby amended as follows: -

(1)

in subsection (2) thereof, by the substitution for the words “shall commence in accordance with the provisions of Part VIII of this Act.” of the words

“shall commence in accordance with the provisions of any other written law for the time being in force which specifically provides for the winding up of any licenced commercial bank in Sri Lanka.”;

(2)

in subsection (3) thereof, by the substitution for the words “close down the business of such bank in and with respect to Sri Lanka, in accordance with the provisions of Part VIII of this Act.” of the words

“close down the business of such bank in accordance with the provisions of any other written law for the time being in force which specifically provides for the winding up of any licensed commercial bank in

Sri Lanka.”;

(3)

in subsection (4) thereof-

(a)

by the substitution, in paragraph (g), for the words “such measures;” of the words “such measures; and”;

(b)

by the substitution in paragraph (h), for the words “such amalgamation; and” of the words

“such amalgamation:”; and

(c)

by the repeal of all the words commencing from “(i) vesting the business of the licensed commercial bank” and ending with the words

“an acquiring bank:”.

Read on from s 10