30.
| (1) The Government is hereby authorized to guarantee, on such terms and conditions as the Government may determine, any loan raised by the Bank from any inter- national or regional lending institution, or from any other international or foreign organization approved by the Government. Any loan authorized to be guaranteed under this subsection may be denominated in foreign currency. |
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| (2) All sums payable by the Government under any guarantee given under subsection (1) are hereby charged on the Consolidated Fund. |
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| (3) All sums payable by the Bank in respect of principal, interest and other charges on any loan to the Bank from any international or regional lending institution or from any other international or foreign organization approved by the Government, under any guarantee given under subsection (1) shall, notwithstanding anything to the contrary in any written or other law, be paid-
| | (a) without deduction for, and free from, any taxes, duties or fees now or hereafter imposed by or under any written or other law ; and | | |
| | (b) free from all restrictions now or hereafter imposed by or under any written or other law : | | |
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| (4) For the purposes of subsection (3), the question whether an Individual or a Corporation is or is not resident in Sri Lanka shall be determined in accordance with the provisions of section 54 of the Inland Revenue Act, No. 4 of 1963. |
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| (5) Every guarantee agreement between the Government and any international or regional lending institution, or any other international or foreign organization approved by the Government pursuant to this Act and every guarantee given by the Government pursuant to any such guarantee agreement shall, notwithstanding anything to the contrary in any law, be valid and enforceable in accordance with their respective terms. |
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| (6) In the case of any loan made to the Bank, by any international or regional institution or any other international or foreign organization approved by the Government, and guaranteed by the Government; the Government shall bear any loss, and be entitled to any profit, resulting from any revaluation of the Sri Lanka rupee in relation to the currency or currencies in which that loan is expressed or re payable in whole or in part. The amount of every such loss is hereby charged on the Consolidated Fund. |
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| (7) Notwithstanding anything in any other written law, no agreement, bond or other document executed by the Bank in respect of any loan which may be raised by the Bank from any international or regional lending institution, or from any other international or foreign organization approved by the Government, shall be subject to, or be charged with, any stamp duty or duties whatsoever. |
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Sri Lanka Consolidated Acts