3. Amendment of section 5 of the principal enactment

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

Section 5 of the principal enactment is hereby amended in subsection (1) thereof as follows: -

(1)

in paragraph (b) thereof, by the substitution for the words “hundred and twenty million rupees;

or”, of the words “hundred and twenty million rupees;”;

(2)

in paragraph (c) thereof, by the substitution for the words and figures “on or after January 1,

2024,” and the words “sixty million rupees.”, of the words and figures “on or after January 1,

2024 and prior to July 1, 2026,” and of the words

“sixty million rupees; or” respectively; and

(3)

by the addition immediately after paragraph (c)

thereof, of the following new paragraph: -

“(d)

for any period commencing on or after

July 1, 2026, the aggregate turnover of such registered person for a period of consecutive four quarters does not exceed thirty-six million rupees.”.