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23. Amendment of section 217 of the principal enactment

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Section 217 of the principal enactment as amended by Act, No. 9 of 2008, is hereby further amended as follows:—

(1)

by the repeal of the definition of the phrase

“approved by the Commissioner-General”, and the substitution therefor of the following definition:—

‘ “approved by the Commissioner-General” when used in relation to a pension, provident, gratuity or savings fund means, approved by the Commissioner-General as conforming to such conditions as may be specified by him, either generally or specifically in relation to any such fund, by notice published in the Gazette, having regard to the need for the protection of the interests of the contributors to any such fund and the protection of revenue;’; and

(2)

by the insertion immediately after the definition of the word “Assessor”, of the following new definition:—

‘ “associate company” means a company over which an investing company has a significant influence and which is neither a subsidiary of the investing company nor is a joint venture of which the investing company is a partner;’.

Read on from s 24