As enacted

Contents

Act of Parliament · As enacted

Sri Lanka Institute of Taxation (Incorporation) (Amendment) Act 2023

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

Official translationFrom Department of Government Printing, unchanged

s 1Short title

This Act may be cited as the Sri Lanka Institute of

Taxation (Incorporation) (Amendment) Act, No. 13 of 2023.

s 2General amendment to the Act, No. 21 of 2000

In every context in which the Sri Lanka Institute of

Taxation is mentioned in the Sri Lanka Institute of Taxation

(Incorporation) Act, No. 21 of 2000 (hereinafter referred to as the “principal enactment”) or in any rule, notice or other document made or issued thereunder, there shall, unless the context otherwise requires, be substituted for the words

“Sri Lanka Institute of Taxation” of the words “Chartered

Institute of Taxation of Sri Lanka”.

s 3Amendment of section 4 of the principal enactment

Section 4 of the principal enactment is hereby amended as follows:–

(1)

by the insertion immediately after paragraph (e) of that section of the following paragraph:-

“(ea)

to formulate a welfare scheme for the benefit of the members of the Corporation in accordance with the rules made under section 8 of the Act;”; and

(2)

by the repeal of paragraph (o) of that section and substitution therefor of the following paragraph:-

“(o)

to appoint, employ, dismiss or terminate the services of officers and servants of the

Corporation and exercise disciplinary control over them and to pay them such salaries, allowances and gratuities in accordance with the rules made under section 8 of the Act;”.

s 4Amendment of section 6 of the principal enactment

Section 6 of the principal enactment is hereby amended as follows:–

(1)

in paragraph (b) of that section, by the substitution for the words “other publication acceptable to the

Council;” of the words “other publication acceptable to the Council; or”; and

(2)

by the addition immediately after paragraph (b) of that section of the following new paragraph:-

“(c) a person who possesses any other qualification in the field of finance or taxation as may be specified by the rules made under section 8 of the Act.”.

s 5Amendment of section 8 of the principal enactment

Section 8 of the principal enactment is hereby amended in subsection (1) of that section as follows:–

(1)

by the repeal of paragraph (a) of that subsection and the substitution therefor of the following paragraph:-

“(a)

the classification of membership, admission, withdrawal, expulsion or resignation of members and fees, payable by each class of members or for qualifying examinations or approved courses of study or any other services provided by the

Corporation, under the provisions of the

Act;”;

(2)

in paragraph (d) of that subsection by the substitution for the word “appointment,” of the words “the terms and conditions of the appointment,”; and

(3)

by the insertion immediately after paragraph (d) of that subsection of the following paragraph:-

“(da)

the qualifications and disqualifications to be a member of the Council and the

Corporation;”.

s 6Replacement of section 9 of the principal enactment

Section 9 of the principal enactment is hereby repealed and the following section is substituted therefor:–

9. Where any member of the Corporation is-

(a)

a fellow member, he shall be entitled to use after his name, the letters

FCIT;

(b)

an associate member, he shall be entitled to use after his name, the letters ACIT;

(c)

an honorary fellow member, he shall be entitled to use after his name, the title Honorary FCIT; or

“Use of letters or titles after name

(d)

an honorary associate member, he shall be entitled to use after his name, the title Honorary ACIT.”.

s 7Amendment of section 10 of the principal enactment

Section 10 of the principal enactment is hereby amended by the substitution for the words “use titles or letters after his name FTII (Sri Lanka) or Honorary ATII (Sri

Lanka)” of the words “use titles or letters after his name

FCIT, ACIT, Honorary FCIT or Honorary ACIT”.

s 8Insertion of new section 13A in the principal enactment

The following new section is hereby inserted immediately after section 13 and shall have effect as section 13A of the principal enactment:-

13A. The members of the Council, officers and servants of the Corporation shall not be liable for any act done or purported to be done or any omission made in good faith during the exercise, performance or discharge of their powers, duties or functions under this Act, provided that such immunity shall not extend to-

(a)

liability for a criminal offence under any written law for the time beign in force;

(b)

any act done in contravention of the provisions of this Act, or any other applicable written law, or any regulation made thereunder.”.

s 9Saving for contracts etc

(1)

Every contract, agreement or other instrument or document whatsoever made, issued or executed prior to the date of commencement of this Act, and subsisting on that date by or in favour of the Sri Lanka Institute of Taxation shall be deemed, from and after the date of commencement of this Act, to be and to have been made, issued or executed by or in, favour of the Chartered Institute of Taxation of

Sri Lanka.

“Members of the Council officers, and servants of the

Corporation not to be liable for acts done in good faith

(2)

All suits, actions, appeals and other legal proceedings instituted by or against the Sri Lanka Institute of Taxation and pending on the day immediately prior to the date of the commencement of this Act, shall not abate or be discontinued, and may be continued or enforced by or against the Chartered Institute of Taxation of Sri Lanka.

s 10Sinhala text to prevail in case of inconsistency

In the event of any inconsistency between the

Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.