Housing Development Finance Corporation Bank of Sri Lanka (Amendment) Act 2011

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

Official translationFrom Department of Government Printing, unchanged

s 1Short title

This Act may be cited as the Housing Development

Finance Corporation Bank of Sri Lanka (Amendment) Act,

No. 45 of 2011.

s 2Amendment of section 13 of Housing Development Finance Corporation Bank of Sri Lanka Act, No. 7 of 1997

The Housing Development Finance Corporation Bank of Sri Lanka Act, No. 7 of 1997 (hereinafter referred to as the

“principal enactment”) is hereby amended in section 13

thereof as follows :—

(1)

by the repeal of paragraph (l) thereof and the substitution therefor of the following :—

“(l)

to borrow or raise money;”;

(2)

by the addition immediately after paragraph (m)

thereof of the following paragraph :—

“(n)

to carry on such forms of business as are specified in Schedule IV to the Banking Act,

No. 30 of 1980, subject to such restrictions as may be expressly stipulated in the licence issued by the Monetary Board under the said

Act.”.

s 3Amendment of section 16 of the principal enactment

Section 16 of the principal enactment is hereby amended in sub section (1) thereof by the substitution for the words “twenty million shares of one hundred rupees each.” of the words “two hundred million shares of ten rupees each.”.

s 4Sinhala text to prevail in case of inconsistency

In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.