Speaker Dr. Jagath Wickramaratne has endorsed the certificate for the Rescue, Rehabilitation and Insolvency (Corporate and Personal) Bill, bringing it into force as Act No. 12 of 2026.

The new law introduces procedures for personal insolvency, including debt protection, moratoria and debt restructuring, while strengthening the framework for corporate rehabilitation and cross-border insolvency.

The Act also repeals the Insolvency Ordinance and amends several existing laws to improve confidence in Sri Lanka's credit market.