Identity area
Type of entity
Corporate body
Authorized form of name
Bank of Ceylon
Parallel form(s) of name
Standardized form(s) of name according to other rules
Other form(s) of name
Identifiers for corporate bodies
Description area
Dates of existence
1968-1982
History
The Bank of Ceylon was established on 1st August 1939 in terms of the Bank of Ceylon Act No. 53 of 1938. It was a direct outcome of the Report of the Banking Commission appointed in 1934.
In terms of Section 7 of the Bank of Ceylon Act, the Bank was authorised to open accounts, to discount bills, to negotiate loans, to collect money, to transact agency business, to borrow or raise money, to lend and advance money, to buy and sell shares, to act as trustees, and to procure recognition of the Bank abroad.
The Bank upto 1946 concentrated in the areas of domestic banking, On 5.10.1949 the London Office of the Bank of Ceylon was opened at Ludgate Hill. Since 1950 Pay Offices of the Bank of Ceylon were opened in main towns to serve needs overseas. Under the Monetary Act No. 65 of 1961 the Bank of Ceylon became a Nationalised Institution from 27.7.1961.
In terms of Section 7 of the Bank of Ceylon Act, the Bank was authorised to open accounts, to discount bills, to negotiate loans, to collect money, to transact agency business, to borrow or raise money, to lend and advance money, to buy and sell shares, to act as trustees, and to procure recognition of the Bank abroad.
The Bank upto 1946 concentrated in the areas of domestic banking, On 5.10.1949 the London Office of the Bank of Ceylon was opened at Ludgate Hill. Since 1950 Pay Offices of the Bank of Ceylon were opened in main towns to serve needs overseas. Under the Monetary Act No. 65 of 1961 the Bank of Ceylon became a Nationalised Institution from 27.7.1961.
Places
Legal status
Functions, occupations and activities
Mandates/sources of authority
Internal structures/genealogy
General context
Relationships area
Control area
Description identifier
LK-NA/BOC
Institution identifier
LK-NA
Rules and/or conventions used
ISAAR
Status
Final
Level of detail
Minimal
Dates of creation, revision and deletion
Language(s)
- English
Script(s)
- Latin