52. Interpretation

In this Act, unless the context otherwise requires—

“accommodation” means any loan, overdraft, advance or any commitment to grant any loan, overdraft, or advance including a commitment to accept a contingent liability ;

“Bank of Ceylon” means the Bank of Ceylon established by the Bank of Ceylon Ordinance (Chapter 397) ;

“banking Institution” means a bank registered under the

Banking Act, No. 30 of 1988 ;

“Central Bank” means the Central Bank of Sri Lanka established by the Monetary Law Act (Chapter 422) ;

“Co-operative Society” means a society registered or deemed to be registered under the Co-operative

Societies Law, No. 5 of 1972 ;

“Employees Provident Fund” means the Employees

Provident Fund established under the Employees

Provident Fund Act, No. 15 of 1958 ;

“enterprise” means any body of persons, whether corporate orunincorporate, by whatsoever name or designation called, and includes a corporation sole or a sole proprietorship ;

“licensed commercial bank” means a commercial bank licensed or deemed to be licensed as a licensed commercial bank under the Banking Act, No. 30 of 1988

;

Payment of compensation.

“licensed specialised bank” means acompany or institution licensed or deemed to be licensed as a licensed specialized bank under the Banking Act, No. 30 of 1988 ;

“Monetary Board” means the Monetary Board of the

Central Bank of Sri Lanka established under the

Monetary Law Act (Chapter 422) ;

“National Savings Bank” means the National Savings

Bank established by the National Savings Bank Act,

No. 30 of 1971 ;

“Net worth of the Vested Bank or Banks” means the value of the assets of the Vesting Bank or Banks vested in the acquiring bank by virtue of an order made under section 45 (excluding unrecoverable assets as determined by the auditor nominated under section

47) less the value of the liabilities of the Vesting

Bank or Banks vested in the acquiring bank, by virtue of such Order;

“People’s Bank” means the People’s Bank established by the People’s Bank Act, No. 29 of 1961 ;

“Regional Rural Development Bank or Banks” means a bank or banks established under the Regional Rural

Development Banks Act, No. 15 of 1985 ;

“region” means one or more of the administrative districts specified in Administrative Districts Act (Chapter

392) ;

“small scale” in relation to a rural development project means a project of which the value of the fixed assets is less than four million rupees; and

“Vested business ” in relation to a Vesting Bank or Banks means the business of the Bank or Banks which is or are vested in such acquiring bank by an Order under section 45,