Settlement Of Debts (Amendment) Law

Settlement Of Debts (Amendment) Law A LAW TO AMEND THE SETTLEMENT OF DEBTS LAW, No. 27 OF 1975. BE it enacted by the National State Assembly of the Republic of Sri Lanka as follows: – Short title. 1. This Law may be cited as the Settlement of Debts (Amendment) Law, No. 10 of 1976. Amendment of section 3 of Law No. 27 of 1975. 2. Section 3 of the Settlement of Debts Law, No. 27 of 1975, (hereinafter referred to as the ” principal enactment “) Is hereby amended, in subsection (1) of that section, by the substitution for the words ” three months “, of the words ” twelve months ” . Section 2 to have retrospective effect. 3. The amendment made in subsection (1) of section 3 of the principal enactment by section 2 of this Law shall be deemed for all purposes to have come into force on January 1, 1976. Amendment of section 4 of the principal enactment. 4. (1) Section 4 of the principal enactment is hereby amended in paragraph (c) thereof, by the substitution for the words ” appointed date “, of the words ” appointed date, excluding the interest due thereon ” . (2) The amendment made in section 4 of the principal enactment by subsection (1) of this section shall be deemed for all purposes to have come into force on January 1, 1976.