Regional Development Banks Act 1997 · පනවන ලද පරිදි · Part III · Finance
18. Authorised capital and contributions to the initial capital
ප්රතිචාර සහ සහායනිල ඉංග්රීසි පරිවර්තනය. එය සිංහල හෝ දෙමළ පාඨයට වඩා වෙනස් නම් බලපවත්වන පාඨය කුමක්දැයි පනතේම සඳහන් වේ.
The authorised share capital of the Bank shall be five hundred million rupees divided into fifty million shares of ten rupees each.
Each of the following institutions, namely —
the Bank of Ceylon ;
the People’s Bank ;
the National Savings Bank ; and
{d) the Employees Provident Fund,
‘shall, not later than two weeks from the date of the publication of the Incorporation Order relating to the establishment of the
Bank, make a contribution of such sum of money as may be determined by the Minister, being a sum not exceeding twelve million rupees, to the initial capital of such Bank, and such institution shall by virtue of such contribution, become a shareholder of the bank, and be allotted shares in the Bank in proportion to it’s contribution.
The Central Bank shall make a contribution to the initial capital of the Bank of such sum of money as may be determined by the Monetary Board with the concurrence of the Minister, having regard to the net worth of the Vesting
Central Bank
“Central Bank” means the Central Bank of Sri Lanka established by the Monetary Law Act;
Bank or Banks after such net worth has been ascertained by the
‘Aonetary Board under section 47 of this Act, and—
where the contribution so determined in respect of a
Bank is equivalent to or less than the net worth of such Vesting Bank or Banks, the net worth upto the value of the sum so determined, shall be deemed to be the contribution by the Central Bank to the initial capital of such Bank, and the difference between such net worth and the contribution deemed to be made shall be dealt with in manner provided for in section 48 ;
where the contribution so determined in respect of a
Bank is more than the net worth of such Vesting
Bank or Banks, such net worth shall be deemed to be a part of the contribution of the Central Bank to the initial capital in such Bank, and the Central Bank shall contribute a further sum equivalent to the difference between such net worth and the contribu-tion so determined for that Bank.
By virtue of the contribution made under subsection (3), Central Bank shall become a shareholder of the Bank and be allotted shares in proportion to the contribution made by it.
Notwithstanding the provisions of subsection (3) where a Bank is established under this Act for a specified region in which a Regional Rural Development Bank has not been established, the Centrat Bank shall contribute to the Capital of such Bank not later than two weeks from the date of establishmentof such Bank, asum determined by the Monetary
region
“region” means one or more of the administrative districts specified in Administrative Districts Act;
Board with the concurrence of the Minister, and shall thereby become a shareholder of such Bank and be allotted shares in such Bank in proportion to its contribution.
The shareholders referred to in subsection (2) may in their discretion, contribute further capital or purchase shares in the Bank, in excess of the sum determined by the Minister as contribution to be made by such shareholders to the initial capital of that Bank.