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srilawsby aturio
As enacted
Contents

Part III · Petroleum Resources Agreement, Exploration Blocks and Development Licences

19. Acquisition of property for contractors

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

(1)

Where a Contractor requires any movable or immovable property for petroleum operations conducted, or proposed to be conducted, by him under a Petroleum

Resources Agreement or a Development License as the case may be and he notifies the PRDC of such requirement, such movable or immovable property shall be deemed to be property required for the purposes of the business of the

PRDC, and may be acquired by the Government and made available to the Contractor, provided the PRDC considers such acquisition essential, having regard to the circumstances of the case.

(2)

Any sum payable by the PRDC for acquisition of any property referred to in subsection (1) shall be paid by the

Contractor and such sum shall be calculated in such manner as may be prescribed.

Part IV

Functions of the Secretariat

Read on from Part IV

Part V

Fiscal Provisions

Read on from Part V

Part VI

General

Read on from Part VI