Section 102: Transitional provision
This section is inserted by Act No 10 of 2017, section 4.
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
102. Transitional provision
Any bank licensed before the commencement of
section 4(b) of the Finance (Miscellaneous Provisions) Act 2017
158 Acts 2017
shall, on the commencement of that section, raise its capital
to not less than –
(a) 300 million rupees by 30 June 2018; and
(b) 400 million rupees by 30 June 2019.
Ask juris about this section Official source
Questions this section answers
- By what dates must an existing bank raise its capital under this transitional rule?