The Recovery of Debts and Bankruptcy Act, 1993 was enacted as Act No. _____ of 1993 and received Presidential assent on _____.

The Recovery of Debts and Bankruptcy Act, 1993 is Act No. 51 of 1993 and received Presidential assent on 27th August, 1993. Although assent was received on 27th August, 1993, it was deemed to have come into force on 24th June, 1993 (Section 1(3)), retroactively validating actions taken under the Recovery of Debts Due to Banks and Financial Institutions Ordinance, 1993 (Ordinance No. 25 of 1993). Aspirants must not confuse the date of assent (27th August, 1993) with the deemed commencement (24th June, 1993). The Act's correct title is the Recovery of Debts AND Bankruptcy Act, 1993, reflecting the 2016 amendment which added insolvency resolution functions to the DRT's mandate.