Foreign Exchange Amnesty (Amendment) Law

Foreign Exchange Amnesty (Amendment) Law A LAW TO AMEND WITH RETROSPECTIVE EFFECT THE FOREIGN EXCHANGE AMNESTY ACT, NO. 1 OF 1971. BE it enacted by the National State Assembly of the Republic of Sri Lanka as follows: – Short title and date of operation of this Law. 1. This Law may be cited as the Foreign Exchange Amnesty (Amendment) Law, No. 13 of 1974, and shall be deemed, for all purposes, to have come into operation on January 21, 1971. Insertion of new section 7A in Act No. 1 of 1971. 2. The following section is hereby inserted immediately after section 7, and shall have effect as section 7a, of the Foreign Exchange Amnesty Act, No. 1 of 1971, hereafter in this Law referred to as the” principal enactment” :- ” Special provisions relating to the admissibility of certain evidence obtained under this Act in prosecutions for exchange control offences. 7A. Where any person to whom this Act applies who has made a declaration of his foreign assets to the competent authority but who has not complied with the relevant directions issued to that person by such authority is prosecuted for any contravention of the provisions of the law for the time being in force relating to exchange control, such declaration and any other documents or any oral or written statement made or given by such person to such authority, shall be admissible in evidence, notwithstanding the provisions of section 5, or that such provisions may or may not have induced such person to make such declaration and notwithstanding anything in any other written law to the contrary.”. Amendment of section 8 of the principal enactment. 3. Section 8 of the principal enactment is hereby amended in subsection (2) of that section by the substitution for paragraph (f) of that subsection, of the following new paragraphs: – ” (f) the Secretary to the Ministry of Finance; or (g) any person to whom it is necessary to communicate such matter for the purpose of- (i) instituting proceedings in a court of law or before a Criminal Justice Commission established under the Criminal Justice Commissions Act, No. 14 of 1972, for any contravention of the law for the time being in force relating to exchange control against the person to whom such matter relates; or (ii) investigating into any contravention of the law for the time being in force relating to exchange control or for securing compliance therewith.”.