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Part III · Sri Lanka Deposit Insurance Scheme

47. Notice of payment of compensation

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

The Central Bank shall, within seven working days prior to the date of implementation of the payment of compensation under the Scheme, publish a notice on the implementation of such payment in at least three Sinhala,

Tamil and English daily newspapers circulating in Sri Lanka, containing-

(a)

the details of the payment bank;

(b)

particulars to be submitted by the depositors to receive compensation;

(c)

maximum amount of compensation that shall be paid per depositor; and

(d)

such other instructions to depositors as to how they shall submit their claims for the payment of compensation.

Read on from s 48

Part IV

Financial Sector Crisis Management Committee

Read on from Part IV

Part V

Winding Up of Licensed Bank

Read on from Part V

Schedules