FOREIGN EXCHANGE ENTITLEMENT CERTIFICATES (REPEAL) LAW

Arrangement of Sections

1. Short title.

2. Repeal of Act No. 28 of 1968.

3. Power of Governor to issue directions in cases of hardship.

4. Directions by Central Bank.

5. Interpretation.

17 of 1977.

A LAW to repeal the Foreign Exchange Entitlement Certificates Act, No. 28 of 1968, and to provide for certain consequential matters.

[Date of Commencement: 16th November; 1977]

1. Short title.

This Law may be cited as the Foreign Exchange Entitlement Certificates (Repeal) Law.

2. Repeal of Act No. 28 of 1968.

(1) The Foreign Exchange Entitlement Certificates Act, No. 28 of 1968, is hereby repealed.

(2) Notwithstanding the repeal of the Foreign Exchange Entitlement Certificates Act, No. 28 of 1968, the following provisions shall apply in relation to every contract entered into with any Commercial Bank which remains unfulfilled on the midnight of November 15/16, 1977, for the purchase or the sale of Foreign Exchange Entitlement Certificates or for the purchase or sale of foreign exchange, or for the purchase or sale of Foreign Exchange Entitlement Certificates and for the purchase or sale of foreign exchange in respect of any transaction where the person entering into such contract is entitled or required to purchase origin Exchange Entitlement Certificates in respect of such transaction—

(a) Where a person has entered into a contract with a Commercial Bank for the sale of foreign exchange and a contract for the issue of Foreign Exchange Entitlement Certificates in respect of the same transaction, such person shall be entitled to receive payment in Sri Lanka currency of an amount calculated at the exchange rate, specified in the contract for the sale of foreign exchange and an amount equivalent to the value of the Foreign Exchange Entitlement Certificates, calculated at the rate specified in the contract for the issue of Foreign Exchange Entitlement Certificates.

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OFFICE ON MISSING PERSONS (ESTABLISHMENT, ADMINISTRATION AND DISCHARGE OF FUNCTIONS) (AMENDMENT) ACT, NO. 9 OF 2017


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OFFICE ON MISSING PERSONS (ESTABLISHMENT, ADMINISTRATION AND DISCHARGE OF FUNCTIONS) (AMENDMENT) ACT, NO. 9 OF 2017


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FISHERIES AND AQUATIC RESOURCES(AMENDMENT) ACT, No. 11 OF 2017


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SUGATHADASA NATIONAL SPORTS COMPLEX AUTHORITY (AMENDMENT) ACT, No. 14 OF 2017


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IMMIGRANTS AND EMIGRANTS (AMENDMENT) ACT, No. 7 OF 2015


OFFICE ON MISSING PERSONS (ESTABLISHMENT, ADMINISTRATION AND DISCHARGE OF FUNCTIONS) (AMENDMENT) ACT, NO. 9 OF 2017


FISHERIES AND AQUATIC RESOURCES(AMENDMENT) ACT, No. 11 OF 2017


NATION BUILDING TAX (AMENDMENT)ACT, No. 13 OF 2017


SUGATHADASA NATIONAL SPORTS COMPLEX AUTHORITY (AMENDMENT) ACT, No. 14 OF 2017


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