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Part II · Amendment of Part III of the Finance Act,

4. Amendment of Part III of the Finance Act…

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Part III (Construction Industry Guarantee Fund Levy)

of the Finance Act, No. 5 of 2005, is hereby amended as follows :—

(1)

in section 14 of that Part, by the substitution for the words “to the Institute for Construction Training an

Development (hereinafter referred to as “ICTAD”)”

of the words “to the Commissioner-General of Inland

Revenue”;

(2)

in section 15 of that Part—

(a)

by the substitution for the word “ICTAD” of the words “the Commissioner-General of

Inland Revenue” ; and

(b)

in the marginal note to that section, by the substitution for the word “ICTAD”, of the words “Commissioner-General of Inland

Revenue”;

(3)

in section 17 of that Part, by the substitution for the words “ICTAD shall maintain a record of all amounts collected by it in relation” of the words, “the

Commissioner-General shall maintain a record of all amounts collected in relation”;

(4)

in section 18 of that Part, by the substitution for the words “ICTAD shall maintain a record of all amounts collected by it in relation” of the words, “the

Commissioner-General shall maintain a record of all amounts collected in relation”;

(5)

in section 19 of that Part, by the substitution in subsections (2), (3), (4), (5) and (6) thereof, for the words“ICTAD” wherever such word appears in such subsections, of the words “the Commissioner-General of Inland Revenue”;

(6)

in section 20 thereof—

(a)

by the insertion immediately before the definition of the expression “construction contractor” of the following definition :—

“Commissioner-General of Inland Revenue”

shall have the same meaning as in the

Inland Revenue Act, No. 10 of 2006 ;

and

(b)

by the repeal of the definition of the expression “the Institution for Construction,

Training and Development (ICTAD)”;

(7)

in section 22 thereof, by the addition at the end of that section of the following paragraph :—

“For the purposes of this section, “ICTAD”

means the Institution for Construction,

Training and Development, being an industrial undertaking which is constituted and established by Order made under section 3 of the State Industrial Corporations Act, No.

49 of 1957 and published in Gazette

Extraordinary No. 718/15 of June 10, 1992.”.

Read on from s 5