ANNOUNCEMENT 22 Nov 2010In November 2010, the government of Sri Lanka announced a rule change for international private debt transactions.
NUMBER OF INTERVENTIONS
Official gazette notification
On 22 November 2010, Sri Lanka through extraordinary Gazette notification no. 1681/11 permitted companies incorporated in Sri Lanka to issue and transfer convertible or non-covertible, redeemable or non-redeemable debentures denominated in Sri Lankan Rupees to foreign institutional investors, corporate bodies incorporated outside Sri Lanka, individuals and Sri Lankans resident outside Sri Lanka.
This liberalisation is subject to the following conditions: