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New laws to legalize previous bond sales

22 March 2017 04:28 am - 5     - {{hitsCtrl.values.hits}}

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The Government will introduce new laws to make all previous bond sales legal and to govern sale of bonds and treasury bills in the future, Prime Minister Ranil Wickremesinghe informed Parliament yesterday.

The Prime Minister in his response to a question asked by joint opposition parliamentary group leader Dinesh Gunawardane said this new legislation would include provisions to legalise the sale of bonds in the past. "Legalising all past bond sales is necessary because problems may arise when it is time for buyers to redeem them," he said.

The Prime Minister said the main objective of the new legislation was to stop the gazetting of bond sales after they are issued. All governments have followed a procedure of issuing gazette notices after the sale of bonds. He said a then deputy finance minister Sarath Amunugama had to issue a gazette notice for a bond sale which had taken place during the time of his predecessor K. N. Choksy.

The Prime Minister said new laws would- also bring provisions to govern the primary dealers and to ensure transparency. (Yohan Perera and Ajith Siriwardana)


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  Comments - 5

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka
  • sene Wednesday, 22 March 2017 10:49 AM

    Will this cover up frauds happened in the past

    muhandirm Wednesday, 22 March 2017 11:29 AM

    Is this a life line to Mahendran to save him from the Bond Scam?

    Sharon Wednesday, 22 March 2017 11:47 AM

    Ha ha.... He thinks the people don't understand the drift...

    Sam Wednesday, 22 March 2017 04:42 PM

    Yes if legalized the Mr Bond has done no wrong. Don't let it happen. Ranil I thought you were alright but I was wrong. We need new politicians. I do not have anyone left to vote for.

    Ponil Rannaya Friday, 24 March 2017 08:27 AM

    New or old laws, enforcement of any laws is to favour the OUTLAWS! Hari, Hari, dan athi borru kiwwa!


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