Sri Lanka Consolidated Acts

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Local Treasury Bills (Amendment) Act (No. 31 of 1995) - Sect 2

Amendment of section 2 of Chapter 417

2. Section 2 of the Local Treasury Bills Ordinance (Chapter 417) (hereinafter referred to as the " principal enactment") is hereby amended as follows: -
(a) by the repeal of subsection (2) thereof and the substitution therefor of the following new subsection: -
"(2) All acts or things necessary for the purpose of, and in connection with, the issue and repayment of Treasury Bills under this Ordinance shall be done on behalf of the Deputy secretary to the Treasury by the central Ban".
(b) by the repeal of subsection (3) thereof ; and
(c) by the insertion of the following new subsections (3) and (4) immediately after subsection (2) thereof-
(3) Treasury Bills may be issued either as bills in the form of written certificates or as Scripless Treasury Bills.
(4)Any application or bids for the purchase of Treasury Bills may having regard to the interests of the national economy be restricted to primary dealers and designated non-dealer bidders.".


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