![]() ![]() Hence, as per the Amendment Act, it is mandatory for all POA issued in Sri Lanka or outside Sri Lanka for carrying out transactions within Sri Lanka, to adhere to the said new requirements although application of the requirements may vary depending on whether the POA is executed prior to Effective Date i.e 25 October 2022 or whether the POA is executed on or after the Effective Date.Īction required from you if a Power Of Attorney (POA) has been submitted / executed prior to the 25 October 2022 in respect of Banking transactions. The POA must not contain an irrevocable clause.Accordingly, A POA shall not in any event contain a validity period of more than 5 years. A POA is valid for a period of 5 years from the date of execution unless a lesser validity period is specifically mentioned or until it is revoked/cancelled.If the purpose of a POA is granted for a transactions effecting immovable property i.e mortgage, lease etc, the description of the land, apartment and other details must be mentioned in such POA document.Failure to register the POA as above, will make the POA null and void w.e.f 24 April 2023. POA executed prior to the Effective Date i.e 25 October 2022, which have not been registered must be registered on or before 24 April 2023.All POA executed in the manner in 1 and 2 must be duly registered with the Registrar Generals Department and this is mandatory with immediate effect for all new POAs.4 of 1981 or a person who is authorized to attest such POA according to the law of that country. If the POA is executed outside Sri Lanka, it must be executed before two witnesses and an Ambassador, or a High Commissioner, or a Diplomatic Officer or a Consular Officer within the meaning of the Consular Functions Act, No.If the POA is executed in Sri Lanka it must be executed before two witnesses and attested by a notary public.In line with the prevailing Tariff of charges of the Bank, all customers who opt for paper statements will be subject to below charges w.e.f 1 April 2023įor more details on the tariff Click We wish to notify you that according to The Powers of Attorney (Amendment) Act No 28 of 2022 (“Amendment Act”) certified by the Speaker of the Parliament which came into force on 25 October 2022, the following salient amendments ( as summarized ), amongst such other amendments which are not specifically listed below, have been made to the laws governing Powers of Attorney to be used in Sri Lanka.Customers who do not raise any concerns will continue to receive e-statements after the e-statement conversion.Applying changes on personal internet banking service or sending a secured message.Customers have the option to convert back to paper statements by,. ![]() ![]() This is a password protected PDF file to ensure data privacy controls. E-statement will be sent to the e-mail address registered with the Bank.Customers who are on paper statements will be informed via SMS with notice of registration to e-statements.Receiving your statement via email is convenient, timely and uses no paper This will improve your experience and avoid any negative impact due to statements not being received on time. To provide a faster, safer and a more convenient service, the Bank will be proactively converting all customers on paper statements to e-statements from the month of April 2023. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |