9. Amendment of section 15 of the principal enactment

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

Section 15 of the principal enactment as last amended by Act, No. 12 of 2004 is hereby further amended as follows :—

(1)

by the substitution for paragraph (i) of that section, of the following paragraph :-

“(i)

the profits and income within the meaning of paragraph (a) of section 3 arising to any person from -

(i)

the sale of gold, gems or jewellery, for any year of assessment commencing prior to April 1, 2005 ;

(ii)

export of gold, gems or jewellery, for any year of assessment commencing on or after April 1, 2005;” ;

(2)

by the substitution for paragraph (vv) of that section, of the following paragraph :—

“(vv)

for the period commencing on April 1, 2004

and ending on December 1, 2004, any profits derived by or accruing to any person, other than a unit trust or a mutual fund, from the sale of any share including a right to any share or a bonus share or a warrant where such disposal has taken place two years after the acquisiton ;” ; and

(3)

by the insertion immediately after paragraph (vv) of that section, of the following new paragraph :-

“(vvv)

for the period commencing on January 1,

2005 and ending on March 31, 2005 and for any year of assessment commencing on or after April 1, 2005, any profits derived by or accruing to any person or partnership other than any unit trust or mutual fund or any venture capital company, from the sale of any share, a right to any share, a bonus share or a share warrant in respect of which the Share Transaction Levy under section 7

of the Finance Act, No 5 of 2005 has been charged, or where such disposal has taken place after two years from the date of acquisition ;”.

Read on from s 10