Amarasuriya stepped down despite a court order that temporarily stayed a central bank regulation that required anyone over 70 years to step down from boards of banks.
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K C Vignarajah, a governance activist went to court against the regulation, which discriminated against older citizens of the country.
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A lower court stayed the order, while a Supreme Court case is pending.
There has been growing unease among private citizens of Sri Lanka over the state acquisition of bank stock sometimes flouting the single shareholder limits.
A central bank controlled pension fund of private citizens has also been buying into banks.