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As enacted

12. Debts due by and payable to the Society

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

All debts and liabilities of the Society existing on the day immediately preceding the date of commencement of this Act, shall be paid by the body corporate hereby constituted and all debts due to, subscriptions and contributions payable to the Society on that day shall be paid to the body corporate for the purposes of this Act.