2. Amendment of section 3 of Act…

Section 3 of the Ports and Airports Development Levy

Act, No. 18 of 2011 (hereinafter referred to as the “principal enactment”) is hereby amended by the repeal of subsection (1) thereof and substitution therefor of the following subsection:–

“(1) The levy to be charged and levied in respect of the cost, insurance and freight value of any article referred to in section 2 shall be calculated –

for the period commencing on January 1,

from January 1, 2016 at the rate of 7.5 per centum.”.