Critics have warned that expropriation violates property rights of citizens and it will hurt investment in the future due to fear of expropriation.
Sri Lanka's opposition parties, including Marxists have called for its withdrawal. Senior Buddhist monks have asked the bill to be stopped.
The law was secretly written and presented to court with only the state prosecutor present. Section 157 of Sri Lanka's constitution gives a specific guarantee against expropriation especially of foreign assets.
Special exercise of constitutional jurisdiction in respect of urgent Bills.
122. (1) In the case of a Bill which is, in the view of the Cabinet of Ministers, urgent in the national interest, and bears an endorsement to that effect under the hand of the Secretary to the Cabinet –
(a) the provisions of Article 78 (1) and of Article 121, shall subject to the provisions of paragraph (2) of this Article, have no application;
(b) the President shall by a written reference addressed to the Chief Justice, require the special determination of the Supreme Court as to whether the Bill or any provision thereof is inconsistent with the Constitution. A copy of such reference shall at the same time be delivered to the Speaker;
(c) the Supreme Court shall make its determination within twenty-four hours (or such longer period not exceeding three days as the President may specify) of the assembling of the Court, and shall communicate its determination only to the President and the Speaker.