AG clears amendments to Bills of Exchange Ordinance

Thursday, 18 July 2024 04:18 - - {{hitsCtrl.values.hits}}

Justice, Prison Affairs and Constitutional Reforms Minister Dr. Wijeyadasa Rajapakshe

The Cabinet of Ministers on Monday approved publishing the Bill in the Government gazette to amend outdated provisions of the Bills of Exchange Ordinance and present the same in the Parliament for approval.

The move follows the Attorney General’s clearance for the draft bill prepared by the Legal Draftsman.

On 24 January 2024, the Cabinet approved amending or removing outdated provisions of the Bills of Exchange Ordinance No. 25 of 1927.

The decision aims to modernise the legal framework governing bills of exchange in Sri Lanka, ensuring it aligns with current economic and legal practices.

The proposal to this effect submitted by Justice, Prison Affairs and Constitutional Reforms Minister Dr. Wijeyadasa Rajapakshe was approved by the Cabinet of Ministers.