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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 (a) thereof, by the substitution for the words and figure “in section 2; or”, of the words and figure “in section 2;”;

(2)

in paragraph (b) thereof, by the substitution for the words “each immediately preceding four quarters of the relevant quarter does not exceed hundred and twenty million rupees.”, of the words and figures

“each immediately preceding four quarters of the relevant quarter prior to January 1, 2024, does not exceed hundred and twenty million rupees; or”;

and

(3)

by the addition immediately after paragraph (b) thereof, of the following:-

“(c)

for any period commencing on or after

January 1, 2024, the aggregate turnover of such registered person for a period of consecutive four quarters does not exceed sixty million rupees.”.

Read on from s 4