Skip to content
srilawsby aturio
As enacted
Contents

Part XII · State Owned Enterprises

60. Levy or dividends from State-Owned Enterprises

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

(1)

(a)

Where applicable, there shall be a dividend policy that shall be set by the respective governing bodies of State-Owned Enterprises, in consultation with the

Secretary to the Treasury.

(b)

The Minister of Finace may impose a levy on State-Owned Enterprise where applicable and may exempt a State-Owned Enterprise from the imposition of such levy. Such levy shall be published in the annual report under subsection (3) of section 53.

(2)

Dividends or other profit distribution from State-Owned Enterprises paid to Government shall be paid into the Consolidated Fund and reflected in the annual budget presented to the Parliament.

(3)

The Secretary to the Treasury shall disclose such sums collected as levy or dividend in the annual report under subsection (3) of section 53.

(4)

No set-off tax relief shall be granted in respect of the amounts paid as a levy or dividend under this section.

Read on from s 61

Part XIII

Provincial Councils and Local Authorities

Read on from Part XIII

Part XIV

Cadre Management

Read on from Part XIV

Part XV

Offences and Penalties

Read on from Part XV

Part XVI

Miscellaneous Provisions

Read on from Part XVI

Part XVII

Repeals

Read on from Part XVII

Part XVIII

Interpretation

Read on from Part XVIII