Rajapaksa yesterday sought the court's opinion if he could contest an election two years before his second term ends. The constitution has been changed to allow a third term, but there is debate over whether the change applies to Rajapaksa.
The president wants the court to rule by Monday, and the court gave the Bar Association until today evening to submit its arguments, only in writing.
Bar Association President Upul Jayasuriya wrote to the Supreme Court today seeking up to two weeks and an oral hearing.
Rajapaksa in 2010 used his party's overwhelming two-thirds majority in Parliament to scrap a two-term limit for president; however some legal experts argue that the changes could only take effect to the presidents after Rajapaksa because he was elected under the old rule.
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The Supreme Court judges are his appointees, so the court is widely expected to rule in favor of Rajapaksa.
Rajapaksa was elected in 2005 and re-elected in 2010 riding on his popularity after leading a successful military campaign to end a 25-year civil war.