27. Amendment of section 113 of the principal enactment

Section 113 of the principal enactment as last amended by Act, No.8 of 2012 is hereby further amended by the addition immediately after subsection (5) of that section, of the following new subsection:-

“(6) Where any bank or financial institution which is required to invest in the investment fund referred to in subsection (5), has not utilized in accordance with the guidelines issued by the Central Bank of Sri Lanka, any part of the funds lying to the credit of the fund as at July 1, 2013, such balance shall be deemed to be a debt due to the

Government by such bank or financial institution as the case may be, and transferred to the Consolidated Fund.”.