Untitled - Colombo Stock Exchange

PART IV
Dividends and Reserve
Half-yearly 19. The Board may-
Dividends (i) on the report of the General Manager that the profits
earned by the Bank during any half-year justifies the payment of a
half-yearly dividend; and
(ii) with the approval of the Minister declare a half-yearly
dividend.
Investment of 20. Any amounts standing to the credit of any reserve funds
Reserve fund and also any other funds of the Bank not for the time
being employed in or required for the purposes of the business of
the bank shall be invested with the approval of the Minister in
stock, shares, debentures, bonds or securities:-
(a) recommended in writing by the General Manager and approved at
a meeting of the Board by a majority of not less than two Directors;
or
(b) unanimously approved by all the Directors for the time being of the
bank after considering the written observations of the general
Manager of the Bank.
B O C DEBENTURE PROSPECTUS 51