Parliament of Sri Lanka - Banking Act, No. 30 of 1988, as amended up to December 31, 2006


The Parliament of Sri Lanka’s Banking Act No. 30 of 1988 is an act to provide for the introduction and operation of a procedure for the licensing of persons carrying on of the banking business in the country. The act also sets forth provisions for the regulation and control of matters by the Central Bank relating to the business of banking, and provides for matters connected. The act is divided into several parts, and covers the following topics:

1. Licensing of Persons Carrying on Banking Business
2. Banking Names and Descriptions
3. Capital Requirements, Reserve Funds and Maintenance of Liquid Assets
4. Off-Shore Banking Business
5. Accounts, Audit, Information and Inspection
6. Disqualification for Appointment as Director, Secretary, or Other Official of Licensed Commercial Banks
8. Control Over Licensed Commercial Banks
9. Vesting The Banking Business of a Licensed Commercial Bank
10. Liquidation of Licensed Commercial Banks Incorporated Within Sri Lanka and Closure of Branches of Licensed Commercial Banks Incorporated Outside Sri Lanka
11. Abandoned Property
12. Licensed Specialized Banks

Document Details

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Date of Document: 
Sunday, December 31, 2006
Document Authors: 
Parliament of Sri Lanka
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