| |
| Foreign Loans (Amendment) |
| |
|
AN ACT TO AMEND THE FOREIGN LOANS ACT.
|
|
|
[23rd August
, 1984 ]
|
|
Short title.
|
1. This Act may be cited as the Foreign Loans (Amendment) Act.
|
|
Amendment of Section 5 of Chapter 313.
|
2. Section 5 of the Foreign Loans Act is hereby amended by the substitution for the definition of “foreign loan” of the following definition:
|
|
” foreign loan ” means a loan or any form or financial credit or accommodation in any currency granted to the Government of Sri Lanka, or to a public corporation, or public enterprise –
|
(a) by a foreign Government or the agency of a foreign Government; or
|
|
(b) by any international organisation; or
|
|
(c) by a person or body of persons outside Sri Lanka, whether corporate or unincorporate, as may be approved by the Government of Sri Lanka generally or in respect of a particular transaction; or as may be approved by the Minister where the Minister is of the opinion that having regard to the nature of the transaction, the identity of such person or body of persons, cannot be ascertained expeditiously,
|
|
and includes –
|
(i) any sum of money which the Government of Sri Lanka or the public corporation or public enterprise, as the case may be, undertakes to pay any such foreign Government, agency, organization, person or body of persons that discharges any liability of the Government of Sri Lanka, or the public corporation or public enterprise, as the case may be, in respect of any transaction between the Government of Sri Lanka, public corporation or public enterprise, as the case may be, and any person outside Sri Lanka; and
|
|
(ii) any loan or any form of financial credit or accommodation in any currency other than the Sri Lanka rupee granted to the Government of Sri Lanka or to a public corporation or public enterprise by a person or body of persons within Sri Lanka whether corporate or unincorporate, as may be approved by the Government of Sri Lanka generally or in respect of a particular transaction, or as may be approved by the Minister where the Minister is of the opinion that having regard to the nature of the transaction the identity of such person or body of persons cannot be ascertained expeditiously.’.
|
|
|
|
|
