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New Secured Transactions Law in Sri Lanka: Key Changes & Impact
WHAT IS THE SECURED TRANSACTION ACT (Act) ? The Secured Transactions Act, No. 17 of 2024, certified on April 1, 2024, establishes a new institutional framework and regulatory structure for secured transactions involving movable property in Sri Lanka. This legislation repeals of the previous Secured Transactions Act, No. 49 of 2009.