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Share Limits

Feb 22, 2013 (LBO) - Sri Lanka's central bank will look at "the need for raising" shareholder ceilings imposed on banks, a media report said, quoting Central Bank Governor Nivard Cabraal.
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Several state entities have also bought stock in private banks, exceeding the limit.
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Reuters, a news agency quoted Cabraal as saying on the sidelines of an investor meeting in India that, for the moment existing rules shall apply.

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Under Sri Lanka's existing law a single shareholder limit of 10 percent applies to banks though related parties can go up to 15 percent.

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Special permission had also been given for some banks to allow higher shareholders limits.

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But there are also listed banks with higher shareholder limits, where existing shareholders have been given deadlines to sell down.

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