4. The provisions of this Law shall not apply where-
| (a) the creditor to whom any liquidated sum of money is due on a debt referred to in section 3(1) is a banking institution, an approved credit agency, any body of persons (whether corporate or unincorporate- ) which is engaged wholly or partly in the bigness of lending money, an approved provident, a public corporation or the State ; or |
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| (b) in respect of such debt, an action has been instituted in any court or an application has been made to the Debt Conciliation Board prior to the appointed date ; or |
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| (c) the debt or the balance of the debt outstanding : on the appointed date exceeds five thousand rupees. |
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Sri Lanka Consolidated Acts