Act of Parliament · As enacted
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Changes the law on the acquisition of business undertakingsOfficial translation, read from a scanFrom Department of Government Printing's scanned PDF, read by OCR; may contain errors
This Act may be cited as the Business Undertakings
(Acquisition) (Amendment) Act, No. 21 of 1980.
The following new section is hereby inserted immediately after section 12, and shall have effect as section
$s 124, of the Business Undertakings (Acquisition) Act, No. 35
ef 1971 :—
section 12a in Act No. 35 of 1971.
“ Interest 12a, Payments to be made in respect payable on o1—
payments
any business undertaking acquired by, or vested in, the Government
; or
amy property vested in, or requisi-tioned by, the Government, for the purpose of any undertaking, shall be considered as accruing due from the date on which such business undertaking or property, as the case may be, was transferred to, or vested in, or requisitioned by, the
Government. Interest at the prescribed rate shall be paid on every such payment from the date on which it accrues due until the date of payment. ”.
The amendment made to the Business Undertakings
(Acquisition) Act by section 2 of this Act shall be deemed for all purposes to have come into operation on the date of coming into operation of that Act.
of new
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“ah