A special Gazette notification has been issued on the Domestic Debt Optimization process recently passed in Parliament.
The Gazette has been issued by President Ranil Wickremesinghe, in his capacity as the Minister of Finance under the Registered Stock and Securities Ordinance, No. 07 of 1937.
As per the Gazette, the Regulations may be cited as the “Registered Stock and Securities (Conversion of Securities) Regulations, No. 02 of 2023.
The President has also declared and authorized the Secretary to the Ministry of Finance, Economic Stabilization and National Policies, and the Registrar of Public Debt the following powers;
- To offer to any holder of any stock or securities issued in Sri Lanka under the provisions of the Ordinance or any other enactment the option of converting or exchanging, as the case may be, the holding as of 28th June 2023 or part thereof.
- To convert or exchange, as the case may be, any stock or securities issued in Sri Lanka under the provisions of the Ordinance or any other enactment held by holders into Treasury Bonds to be issued under the Ordinance.
- To specify the manner in which payment of interest is made and the conditions subject to which such Treasury Bonds may be converted or exchanged, as the case may be, under the Ordinance. (NewsWire)
