Public Officers’ (Security) (Amendment)

Public Officers’ (Security) (Amendment)


AN ACT TO AMEND THE PUBLIC OFFICERS’ (SECURITY) ORDINANCE.

BE it enacted by the Queen’s Most Excellent Majesty, by and with the advice and consent of the Senate and the House of Representatives of Ceylon in this present Parliament assembled, and by the authority of the same, as follows: –
Short title.
1. This Act may be cited as the Public Officers’ (Security) (Amendment) Act, No. 4 of 1968.
Amendment of section 2 of Chapter 352.
2. Section 2 of the Public Officers’ (Security) Ordinance (hereinafter referred to as the ” principal enactment “) is hereby amended as follows: –

(1) in paragraph (d) of that section, by the substitution, for the words ” of any such public company or association accustomed as part of their regular business to guarantee the fidelity of any persons, as may be approved by the Deputy Secretary to the Treasury: “, of the words ” of the Insurance Corporation: ” ; and
(2) in the marginal note to paragraph (d) of that section, by the substitution, for the words ” guarantee of a guarantee company duly approved by the Deputy Secretary to the Treasury “, of the words ” guarantee of the Insurance Corporation. “.
Repeal of section 3 of the principal enactment.
3. Section 3 of the principal enactment is hereby repealed.
Amendment of section 7 of the principal enactment.
4. Section 7 of the principal enactment is hereby amended, in sub-section (1) of that section, by the substitution, for the words ” or public company, or other association “, wherever those words occur in that sub-section, of the words ” or the Insurance Corporation “.
Amendment of section 8 of the principal enactment.
5. Section 8 of the principal enactment is hereby amended, in sub-section (1) of that section, as follows: –

(1) by the substitution, for the words ” of any public company “, of the words ” of the Insurance Corporation ”; and
(2) by the substitution, for the words ” binding the company “, of the words ” binding the Insurance Corporation “.
Insertion of new section 13 in the principal enactment..
6. The following new section is hereby inserted immediately after section 12, and shall have effect as section 13, of the principal enactment: –

Interpretation.
13. In this Ordinance, ” Insurance Corporation ” means the Insurance Corporation of Ceylon established by the Insurance Corporation Act, No. 2 of 1961.’.
Transitional provisions.
7.

(1) Notwithstanding the repeal of section 3 of the principal enactment by section 3 of this Act, the provisions of section 6 of the principal enactment relating to moneys lodged in a bank and to securities deposited with the Permanent Secretary to the Ministry under section 2 of the principal enactment, shall respectively apply to moneys and to securities deposited, prior to the date of commencement of this Act, with the Permanent Secretary to the Ministry under the repealed section 3 of the principal enactment.
(2) Section 7 of the principal enactment, which is amended by section 4 of this Act, shall, in relation to any public company or association which has, prior to the date of the commencement of this Act, given any guarantee or security under the principal enactment, continue to have effect in all respects as if the said section 7 had not been so amended.