Sri Lanka Consolidated Acts

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Exchange Control (Amendment) Act (No. 17 of 1971) - Sect 7

Amendment of section 17 of the principal Act,

5. Section 17 of the principal Act is hereby amended as follows: -
(1) in sub-section (1) of that section, by the substitution, for the words " in a specified foreign currency " wherever those words occur collectively in that sub section, of the words " in any foreign currency "; and
(2) by the repeal of sub-section (2) of that section, and the substitution therefor, of the following new sub-section: - "
"(2) Except with the permission of the Minister, no person shall, in Ceylon, and no person resident in Ceylon shall, outside Ceylon, acquire, hold or transfer any security to which this section applies or do anything which affects his rights or powers in relation to any such security.".


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