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As enacted
Contents

Act of Parliament

Debt Conciliation (Amendment) Act 2019

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Official translationFrom Department of Government Printing, unchanged

s 1Short title

This Act may be cited as the Debt Conciliation

(Amendment) Act, No. 4 of 2019.

s 2Amendment of section 2 of (Chapter 81)

Section 2 of the Debt Conciliation Ordinance

(Chapter 81) (hereinafter referred to as the “principal enactment”) is hereby amended as follows:-

(1)

in subsection (1) of that section by the substitution, for all the words commencing from “shall consist of fi ve members’’, to “to be

Chairman of the Board.’’of the following:-

“shall consist of eleven members appointed by the Minister.’’;

(2)

by the repeal of subsection (2) of that section and the substitution therefor of the following new subsection:-

“(2) The Board shall consist of the following:-

(a)

seven members consisting of persons-

(i)

who hold or have held a post as a Judge of the High Court or as a

District Judge; or

(ii)

who have not less than fi fteen years professional experience as an attorney-at-law; and

(b)

four members consisting of persons-

(i)

who have not less than ten years’

professional experience as an attorney-at-law;

(ii)

who hold or have held a post of

Class I offi cer in the Sri Lanka

Administrative Service or in an

All Island Service; or

(iii)

who have experience in the fi elds of trade and commerce.”;

(3)

by the repeal of subsection (3) of that section and the substitution therefor of the following new subsection:-

“(3) The Minister shall appoint a member appointed under paragraph (a) of subsection (2)

to be the Chairman of the Board.”.

s 3Amendment of section 7 of the principal enactment

Section 7 of the principal enactment is hereby amended by the substitution, for the words “The Board may from time to time”, of the words “ The Minister may from time to time”.

s 4Amendment of section 8 of the principal. enactment

Section 8 of the principal enactment is hereby repealed and the following section substituted therefor:-

8. (1) Every branch board shall consist of a chairman and such number of other members appointed by the Minister, not exceeding four and not less than two, as the Minister may determine.

“Constitution of branch boards.

(2)

The Chairman of each branch board shall be a member of the Board and be -

(a)

a person who holds or has held a post as a Judge of the High Court or as a District Judge; or

(b)

a person who has not less than fi fteen years’ professional experience as an attorney-at-law.

(3)

Other members of each branch board shall consist of persons-

(a)

who have not less than ten years’

professional experience as an attorney-at-law; or

(b)

who hold or have held a post of

Class I offi cer in the Sri Lanka

Administrative Service or in an

All Island Service.

(4)

Any member of the branch board may at any time-

(a)

resign from his offi ce on the branch board;

(b)

be removed from offi ce by the

Minister for reasons assigned.

(5)

Any person ceasing to be a member of a branch board other than a person who has been removed from offi ce shall be eligible for reappointment thereto.”.

s 5Sinhala text to prevail in case of any inconsistency

In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.