31. Replacement of section 27 of the principal enactment

Section 27 of the principal enactment is hereby repealed and the following section is substituted therefor: -

27. (1) Any person who arrives in or leaves Sri Lanka with cash or bearer negotiable instruments exceeding the sum as may be specified by the Minister by Order published in the Gazette, under the provisions of the

Foreign Exchange Act, No. 12 of 2017, on such person or in the luggage of such person without first having reported the fact to the relevant authority, commits an offence and shall, on conviction by a Magistrate, be liable to a fine not exceeding three times of the value of the cash or bearer negotiable instruments or to an imprisonment of either description for a term not exceeding one year, or to both such fine and imprisonment.

The cash or bearer negotiable instruments in excess of the sum specified by the Minister, shall be forfeited to the State free from all encumbrances.”.