Land (Restrictions on Alienation) (Amendment) Act 2017

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. 3 of 2017 and shall be deemed to have come into operation with effect from

January 8, 2017.

s 2Insertion of new section 5A in Act, No. 38 of 2014

The following new section is hereby inserted immediately after section 5 of the Land (Restrictions on

Alienation) Act, No. 38 of 2014 and shall have effect as section 5A of that Act:—

5A. Notwithstanding anything to the contrary in any of the provisions of this Act, the provisions relating to the Land Lease Tax shall not apply to a lease of any land—

(a)

to a foreigner; or

(b)

to a company incorporated in Sri Lanka under the Companies Act, where any foreign shareholding in such company, either direct or indirect, is fifty per cent or above; or

(c)

to a foreign company, under and indenture of lease executed on or after January 8, 2017, and accordingly the Land

Lease Tax shall not be charged, levied or collected from any such person or company on or after such date.”.

s 3Sinhala 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.

“Land Lease

Tax not to be levied with effect from

January 8,

2017.