3. Replacement of sections 2, 3 and 4 of the principal enactment
Feedback & supportOfficial English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Sections 2, 3 and 4 of the principal enactment are hereby repealed and the following sections substituted therefor :—
“ Person
2. The President or any person specially empowered
.
to sign authorized by him in that behalf may, in the agreements
.
& c. felat-name and on behalf of the Government of Sri ing to
:
foreign
Lanka, sign—
loans to the
an agreement relating to a foreign loan
foreign loan
“foreign loan” means a loan in any currency granted to the Goverriment of Sri Lanka or to a public corpora-tion or public enterprise— (a) by a foreign Government or the agency of a foreign Govern. ment, or Foreign Loans (Amendment) Act…
Government of Sri to the Government of Sri Lanka
;
Lanka and be
a puarantee by the Government of Sri
Government
Lanka relating to a foreign loan to a of Sri public corporation or public enter-prise ; and
public corporation
“ public corporation” means any corpora-tion, board or other body which was or is established by or under any written law other than the Compa-nies Ordinance, with funds or capital wholly or partly provided by the Government of Sri Lanka by way of grant, loan or otherwise;
<e) any contract, bond, promissory note or other document required by such agreement or guarantee to be execu-ted by the Government of Sri Lanka.
Sus payable by the
Government of Sri
Lanka under agreements and guarantees tobea
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charge on the Conzoli-dated Fund of Sri
Lanka.
Power of
Minister of
Finance to make
Provision to give cffect to an agreement garantec relating toa foreign loan.
Foreign Loans (Amendment)
Act, No. 23 of 1980
3. All sums payable by the Government of
Sri Lanka—
under an agreement relating to a
‘foreign loan to the. Government of
Sri Lanka
;
in terms of a guarantee relating toa foreign loan to a public corporation or public enterprise ; and
public enterprise
“public enterprise” means any company which is registered under the Com-panies Ordinance and in which the Government of Sri Lanka holds not less than fifty per centum of the paid-up capital. ’ Annual subscription of Bills and Laws of the Parliament Rs. 30 (Local), Rs. 40 (Foreign), payable to the SupeemnrgenpEent, GOVERNMENT PUBLICATIONS Bursay, P. O. Box 500, Cotomso 1, before 18th December each year in respect of the year following. Late subscriptions will be accepted on the conditions that Bills and Laws issued before the date of payment will not be supplied.
under any contract, bond or promis-sory note executed pursuant to such agreement or guarantee, are hereby charged on the Consolidated Fund of Sri Lanka.
4.
or
The Minister in charge of the subject of Finance may, by Order published in the
Gazette, make such provision as may be necessary to give effect to an agreement relating to a foreign loan to the Government of Sri Lanka or to a guarantee given by the
Government of Sri Lanka relating to a foreign loan to a public corporation or public enterprise.
Every Order made and published under subsection (1) shall have the force of law.
Every Order made and published under subsection (1) shall be pregénted in
Parliament within one month of the making of such Order.”.
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