33. Amendment of section 195 of the principal enactment

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

Section 195 of the principal enactment is hereby amended as follows: -

(1)

by the repeal of sub-paragraph (iv) of paragraph (a) of the definition of the expression “authorised representative”, and the substitution therefor, of the following sub-paragraph: -

“(iv) a member of the Chartered Institute of Taxation of Sri Lanka established under the Sri Lanka Institute of

Taxation (Incorporation) Act, No. 21

of 2000;”;

(2)

by the insertion immediately after the definition of the expression “Company”, of the following new definition: -

““Controller of

Immigration and

Emigration”

means the

Controller of Immigration and

Emigration appointed under section 4 of the Immigrants and

Emigrants Act (Chapter 351);”;

(3)

in the definition of the expression “interest”-

(a)

by the repeal of paragraph (a) and the substitution therefor, of the following paragraph: -

“(a) a payment, including a discount or premium, made under a debt obligation that is not a repayment of capital;”; and

(b)

by the repeal of paragraph (c) and the substitution therefor, of the following paragraph: -

“(c) a commitment, guarantee or service fee paid in respect of a debt obligation or swap agreement; and”; and

(4)

in the definition of the expression “non-governmental organization”, by the substitution for the words “does not include an approved charity;”, of the words and figure “does not include a charitable institution referred to in sub-paragraph (a) of paragraph 1 of the Fifth

Schedule to this Act;”.

Read on from s 34