Land (Restrictions on Alienation) (Amendment) Act 2018

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

Official translationFrom Department of Government Printing, unchanged

s 1Short title and date of operation

This Act may be cited as the Land (Restrictions on

Alienation) (Amendment) Act, No. 21 of 2018 and shall be deemed to have come into operation on April 1, 2018.

s 2Amendment of section 3 of Act, No. 38 of 2014

Section 3 of the Land (Restrictions on Alienation)

Act, No. 38 of 2014 (hereinafter referred to as the “principal enactment”) is hereby amended in subsection (1) —

(a)

by the repeal of paragraph (b) of that subsection and the substitution therefor of the following paragraph:—

“(b)

a condominium parcel specified under the

Apartment Ownership Law:

Provided that, the entire value shall be paid upfront through an inward foreign remittance prior to the execution of the relevant deed of transfer;”;

(b)

in paragraph (h) of that subsection by the substitution for the words “transfer of such land.”

of the words “transfer of such land; and”;

(c)

immediately after paragraph (h) of that subsection by the addition of the following new paragraph:—

“(i)

any land, the title of which is transferred on or after April 1, 2018, to a company referred to in paragraph (b) of subsection (1) of section 2, listed in the Colombo Stock

Exchange.”.

s 3Amendment of section 5A of the principal enactment

Section 5A of the principal enactment is hereby amended —

(a)

by the substitution for the words and figures

“January 8, 2017.” of the words and figures

“January 1, 2016.”;

(b)

in the marginal note thereof, by the substitution for the words and figures “January 8, 2017.” of the words and figures “January 1, 2016.”.

s 4Sinhala text to prevail in case of inconsistency

In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.