அதிகாரப்பூர்வ மொழிபெயர்ப்புDepartment of Government Printing-இலிருந்து, மாற்றமின்றி
Section 31 of the principal enactment is hereby repealed and the following section substituted therefor :—
31. Where an order is made by the Monetary
Board under section 30 requiring the winding up of a banking institution—
(a)
in the case of a commercial bank, the
Monetary Board shall cancel the licence issued to it under the Banking
Act and the provisions of Part VIII of
“Winding up of a banking institution.
that Act shall apply as if it were a compulsory winding up of the bank, in the case of a bank incorporated or established within Sri Lanka or a compulsory winding up of the affairs or closure of the business of the bank, in the case of a bank incorporated outside Sri Lanka ;
(b)
in the case of any other banking institution, not being a licensed specialised bank to which subsection (10) of section 30 is applicable, the
Director of Bank Supervision shall nominate a person to be the liquidator for the purpose of winding up and subject to such nomination, such institution shall be wound up in accordance with the law applicable to such institution.”.