CEYLON PETROLEUM (FOREIGN CLAIMS)
Arrangement of Sections
1. Short title.
2. The bringing into effect of Petroleum Compensation agreements to which this Act applies.
3. Payment of certain sums may be a charge on the Consolidated Fund of Ceylon.
4. This Act and each Petroleum Compensation agreement to which this Act applies to prevail over other written law.
19 of 1965.
AN ACT to give effect to agreements entered into between the Government and Foreign-owned Petroleum Companies as regards the compensation to be paid to such companies for certain assets of such companies which were vested in, or requisitioned for, the Ceylon Petroleum Corporation under the provisions of the Ceylon Petroleum Corporation Act, and to provide for matters connected therewith or incidental thereto.
[Date of Commencement: 18th December, 1965]
1. Short title.
This Act may be cited as the Ceylon Petroleum (Foreign Claims) Compensation Act.
2. The bringing into effect of petroleum compensation agreements to which this Act applies.
(1) Each petroleum compensation agreement to which this Act applies shall be deemed, at all times to have been, and to be, duly entered into, notwithstanding anything to the contrary in the provisions of any written law (other than this Act), and accordingly—
(a) the Minister of Finance, or any person authorised by such Minister in that behalf, shall be deemed, at all times, to have had, and to have, power and authority, on behalf of the Government, to have signed such agreement and all documents connected therewith, and to have done and to do all such acts or things as may have been and may be necessary for the purpose of entering into and implementing such agreement;
(b) the Ceylon Petroleum Corporation, or the Chairman of such Corporation or any of its officers or servants, shall be deemed, at all times, to have had, and to have, power and authority, on behalf of such Corporation, to have done and to do all such acts or things as may have been and may be necessary for that purpose, and in particular, but without prejudice to the generality of the preceding provisions of this paragraph, to have paid and to pay out of the funds of such Corporation all such sums of money as are paid or caused to be paid in the implementation of such agreement;
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