Sri Lanka Consolidated Acts

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Exchange Control (Amendment) Law (No. 39 of 1973) - Sect 13

Amendment of section 51 of the principal Act

13. Section 51 of the principal Act is hereby amended as follows:-
(1) by the repeal of subsection (1) thereof, and the substitution therefor, of the following subsection: -
" (1) Any person in or resident in Sri Lanka who contravenes any provision of this Act or of any regulation made under this Act or fails to comply with any direction given or condition or requirement imposed under this Act shall be guilty of an offence, not withstanding that the offence may, by virtue of Part IV of this Act, be also punishable under the provisions of the Customs Ordinance.";
(2) by the repeal of subsection (4) thereof, and the substitution therefor, of the following subsection:
" (4) Any person who commits an offence under this Act shall-
(a) on conviction after summary trial before a Magistrate, be liable to imprisonment of either description for a term not exceeding eighteen months, or to both such imprisonment and a fine: or
(b) on conviction before a District Court, be liable to imprisonment of either description for a term not exceeding five years, or to both such imprisonment and a fine;
(3) by the insertion, immediately after subsection (6) thereof, of the following new subsections: -
"(7) No prosecution in respect of any offence under this Act may be commenced except at the instance of, or with the sanction of, the bank:
(8) All offences under this Act snail be cognizable offences for the purposes of the application of the provisions of the Criminal Procedure Code, notwithstanding anything contained in the First Schedule to that Code.
(9) Notwithstanding anything in any other law any offence under this Act committed outside Sri Lanka may be tried before a Magistrate baring jurisdiction in the division of Colombo or before the District Court in Colombo."


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