3. Raising loans for the purpose of management of public debt

The Parliament may, during a particular financial year from time to time, by resolution, approve to raise sums of money, the total of which shall not exceed ten percentum of the total outstanding debt as at the end of the preceding financial year, as a loan whether in or outside Sri Lanka, in terms of the relevant laws for moneys to be raised including the provisions of the Monetary Law Act (Chapter 422), the

Local Treasury Bills Ordinance (Chapter 417), Registered

Stocks and Securities Ordinance (Chapter 420), or the Foreign

Loans Act, No. 29 of 1957, for and on behalf of the Government for the purposes of refinancing and pre-financing of public debts of the Government.