Bill amending the Finance Leasing Act, No. 56 of 2000 (dated 10/11/2023) – Ministry of Finance, Economic Stabilization and National Policies
View Pdf– Bill amending the Finance Leasing Act, No. 56 of 2000 (dated 10/11/2023) – Ministry of Finance, Economic Stabilization and National Policies.
- The Ministry of Finance, Economic Stabilization, and National Policies introduced a bill proposing amendments to Sections 24, 26, and 27 under Finance Leasing Act, No. 56 of 2000. Under the proposed amendments, Section 24 allows a lessor to transfer rights without the lessee’s consent, while Section 26 requires perfected rights under the Secured Transactions Act for enforcement against a lessee’s trustee or creditor. Additionally, Section 27 recognizes a lessor’s right, registered under the Secured Transactions Act, to reclaim possession of leased equipment. Please refer the bill for more details.
