Regional Development Banks Act 1997 · As enacted · Part VI · General
47. Audit of accounts and valuation of vested business. t
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For the purpose of ascertaining the net worth of the business of any Vesting Bank or Banks on the day immediately preceding the date of vesting, the Monetary
Board shal! cause an audit of such vested business to be conducted by a qualified auditor.
The auditor appointed under subsection (1) shall submit a report to the Monetary Board within such period as may be specified by that Board and the Monetary Board shall consider the report and if necessary before accepting such report, require the auditor to furnish any further information or explanations as it may consider necessary.
Monetary Board
“Monetary Board” means the Monetary Board of the Central Bank of Sri Lanka established under the Monetary Law Act;