3. Insertion of new sections 7A, 7B and 7C in the principal enactment

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

The following new sections are hereby inserted immediately after section 7 of the principal enactment, and shall have effect as sections 7A, 7B and 7C of that enactment :—

7A. Without prejudice to anything contained in this Ordinance particularly the provisions of sections 8, 9, 10 and 11, the

Central Bank shall regulate, supervise and monitor the primary dealers and the designated non dealer bidders with respect to their transactions in Treasury Bills issued in the form of written certificates.

7B. The Minister may, by notification published in the Gazette and in two local newspapers in Sinhala, Tamil and English, notify the public of a day, from which, Treasury

Bills may be issued in the form of Scripless

Treasury Bills.

“Central

Bank to supervise or to monitor the transac-tions of primary dealers and non dealer bidders.

Issue of

Scripless

Treasury

Bills

7C. (1) The Central Bank may by notification published in the Gazette and in two local newspapers in Sinhala, Tamil and

English, require the holders of Treasury Bills issued in the form of written certificates having a specified date of maturity, if they so desire, to surrender such Bills for conversion into

Scripless Treasury Bills in accordance with such procedure as may be prescribed. Such Treasury

Bills shall upon conversion into Scripless

Treasury Bills be deemed to be Scripless

Treasury Bills issued under this Ordinance.

(2)

Nothing contained in subsection (1)

shall be construed as affecting or discharging the liability of the Government under this

Ordinance in respect of a Treasury Bill which is not converted into a Scripless Treasury Bill as provided for in subsection (1).”.

Read on from s 4