Powers of Attorney (Amendment) Act, No. 3 of 2024

The Parliament of the Democratic Socialist Republic of Sri Lanka has enacted the Powers of Attorney (Amendment) Act, No. 3 of 2024, introducing crucial changes to the existing Powers of Attorney Ordinance (Chapter 122).

Here’s a summary of the key amendments:

http://documents.gov.lk/files/act/2024/1/03-2024_E.pdf: Powers of Attorney (Amendment) Act, No. 3 of 2024

1. Short Title and Citation:

  • The Act is titled the Powers of Attorney (Amendment) Act, No. 3 of 2024.

2. Amendment to Section 2:

  • Paragraph (b) of the definition of “power of attorney” in Section 2 is amended.
  • The requirement for execution before two witnesses and an Ambassador is replaced with execution before an Ambassador only.

3. Amendment to Section 3D:

  • A correction is made to Section 3D by substituting words for clarity.

4. Amendment to Section 4:

  • Substantial changes are made to Section 4, introducing new provisions for the execution of documents within and outside Sri Lanka.
  • Execution within Sri Lanka requires attestation by a notary public and two witnesses.
  • Execution outside Sri Lanka is permissible before an Ambassador, High Commissioner, Diplomatic Officer, Consular Officer, or a person authorized under the Consular Functions Act, No. 4 of 1981.

5. Replacement of Schedule II:

  • Schedule II of the principal enactment is repealed and substituted.
  • The new schedule includes details like the date of registration, grantor and attorney information, and specifics of the document of revocation or cancellation.

6. Validation and Transitional Provision:

  • A validation provision is introduced, making powers of attorney executed before October 25, 2022, valid for two years from that date.
  • These powers of attorney must be submitted for registration within the two-year period to maintain validity.

This amendment aims to streamline and modernize procedures related to powers of attorney, enhancing clarity and adaptability.

#PowersOfAttorney #LegalUpdate #AmendmentAct2024 #SriLanka #LegalNews

© 2023 Online Law Master. All rights reserved. | Handmade By Uvin