5. Amendment of section 11 of the principal enactment

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

Section 11 of the principal enactment as last amended by Act, No. 37 of 2003, is hereby further amended as follows :—

(1)

by the renumbering of that section as subsection (1) of that section ;

(2)

in paragraphs (g) of the renumbered subsection (1)

by the substitution for the words “any dividend paid to a shareholder of a company, out of any such

Inland Revenue (Amendment)

dividend received by that company as is referred to in paragraph (a) or (f), if the first mentioned”, of the words “any dividend paid to a shareholder of a company, out of any such dividend received by that company during the period for which dividends as is referred to in paragraphs (a), (b), (c), (d), (e) or (f) respectively, are exempt from income tax, if the first mentioned, ;

(3)

in paragraph (h) of the re-numbered subsection (1)

for the words “paragraph (a) or (f)” wherever those words appear in that paragraph, of the words

“paragraphs (a), (b), (c), (d), (e) or (f)” respectively ;

an”

(4)

by the addition immediately after the renumbered subsection (1), of the following new subsection :—

“(2)

(a)

The provisions of paragraph (b), (c), (d), or (e) of subsection (1) shall not apply to any dividend paid on or after April 1,

2004, in relation to any agreement referred to therein, which has been entered into on or after November 6,

2002. ; or

(b)

The provisions of paragraph (f) of subsection (1), shall not apply to any dividend paid on or after April 1, 2004, by any company referred to in that paragraph, which qualified for an exemption on to after November 6,

2002.”.

Read on from s 6