114. Prohibited activities

grant any credit, except as authorized under this

engage in trade or otherwise have a direct interest in any commercial, industrial, or other undertaking except where such interest is acquired in satisfaction of any of its claims:

purchase the shares of any other bank or financial institution or of any company, or grant loans or advances upon the security of any such shares;

grant loans or advances on the mortgage of, or otherwise on the security of, immovable property or documents of title relating thereto; or

acquire by purchase, lease, or otherwise any right in or to real property, except as it may consider necessary or expedient for the provision of premises for the conduct of its administration and operations or such other requirements incidental to the discharging of its functions.

make adequately secured loans to, or have an ownership share or otherwise participate in, any organization that is engaged in activities that are required for the proper discharge of the functions of the Central Bank and including an ownership share or otherwise participate in any company which, in the opinion of the Governing Board, was formed for the advancement and promotion of human resources and technological development in the banking and financial sector in Sri Lanka, or to provide for all or any of the facilities;

grant loans to any employee of the Central Bank, in accordance with rules made by the Governing

establish employee retirement funds or similar arrangements for the benefit or protection of the employees of the Central Bank and their dependents and nominees, and manage such funds or arrangements; and

lease out any property that is not immediately required for the purposes of the Central Bank.