3. Amendment of section 7 of the principal enactment

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

Section 7 of the principal enactment as last amended by Act, No. 19 of 2009, is hereby further amended as follows:—

(1)

in paragraph (b) of that section, by the addition immediately after sub-paragraph (lx), of the following new sub-paragraph:—

“(lxi)

the profits and income of the Insurance

Board of Sri Lanka, established by the

Regulation of the Insurance Industry Act,

No. 43 of 2000." ;

(2)

by the substitution in paragraph (e) of that section for the words " the profits and income of a charitable institution, of the words and figures" the profits and income accruing prior to April 1, 2011, of a charitable institution”;

(3)

by the repeal of paragraph (h) of that section, and substitution therefor, of the following paragraph:—

"(h)

the profits and income of any registered society within the meaning of the

Co-operative Societies Law, No. 5 of 1972 or under the respective Statute enacted by a

Provincial Council providing for such registration and the profits and income of Lak

Sathoosa Limited registered under the

Companies Act, No. 7 of 2007.";

(4)

by the substitution in paragraph (i) of that section, for the words and figures "Apiwenuwen Api Fund

Act, No. 6 of 2008.", of the words and figures

“Apiwenuwen Api Fund Act, No. 6 of 2008;";

(5)

by the addition immediately after paragraph (i) of that section, of the following new paragraphs:-

"(j) the profits and income for every year of assessment within the period of ten years commencing on April 1, 2011, of-

(i)

Sri Lankan Airlines Limited;

(ii)

Mihin Lanka (Pvt.) Limited;

(k)

the profits and income for every year of assessment within the period of five years commencing on April 1, 2011, of -

(i)

Ceylon Electricity Board;

(ii)

National Water Supply and Drainage

Board;

(iii)

Ceylon Petroleum Corporation;

(iv)

Sri Lanka Ports Authority, if, twenty five per centum of the gross profits of such

Board, Corporation or Authority, as the case may be, for such year of assessment is paid as dividend to the

Government.".

Read on from s 4