11. Interpretation

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

For purposes of this Act, unless the context otherwise requires —

“company” means the company referred to in the Order published under paragraph (b) of subsection (2) of section 3 ;

“business” includes —

(a)

the business carried on by the National

Development Bank of Sri Lanka as a licensed specialised bank, as at the specified date;

(b)

all property immovable and movable of the National Development Bank of Sri

Lanka as at the specified date (including cash balances, reserve funds, investments and deposits);

(c)

all liabilities, including deposits and contingent liabilities, of the National

Development Bank of Sri Lanka as at the specified date;

(d)

all rights, powers, privileges, authorities, obligations, duties and interests arising in or out of the said business, such property and such liabilities as at the specified date including the license issued to the National

Development Bank of Sri Lanka by the

Monetary Board under subsection (3) of section 76A of the Banking Act;

(e)

all books, accounts and documents relating or appertaining to the National

Development Bank of Sri Lanka or to any property of the Bank at the specified date;

“Banking Act” means the Banking Act, No. 30 of 1988

as amended from time to time;

“National Development Bank of Sri Lanka” means the

National Development Bank established by the

National Development Bank of Sri Lanka Act, No.

2 of 1979.

National Development Bank of Sri Lanka