Stamp Duty (Amendment) Act 1999

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 Stamp Duty (Amendment)

Act, No. 25 of 1999.

s 2Amendment of section 5 of Act, No. 43 of 1982

Section 5 of the Stamp Duty Act, No. 43 of 1982

(hereinafter referred to as the “Principal enactment”) as last amended by Act, No. 38 of 1996, is hereby further amended as follows :–

(1)

by the repeal of paragraph (24) of that section, and the substitution thererfor of the following paragraph :–

“(24)

debt security or any instrument executed for the sale or transfer of a debt security”; and

(2)

by the addition at the end of that section, of the following new paragraph :–

“(27)

repurchase agreement, relating to

Treasury Bills or Government Securities entered into with any primary dealer.”.

s 3Amendment of section 71 of the principal enactment

Section 71 of the principal enactment is amended by

Act, No. 6 of 1996 is hereby further amended by the insertion immediately after the definition of the expression, “power of attorney”, of the following definition :–

‘ “primary dealer” means any commercial bank.

company or other person appointed by the Monetary

Board of the Central Bank of Sri Lanka under the local

Treasury Bills Ordinance as a primary dealer for the purpose of dealing in treasury bills or, registered stock and securities;’.

H-022545

s 4Retrospective effect

The amendments to section 5 and section 71 of the principal enactment made by section 2 and section 3

respectively of this Act, shall be deemed, for all purposes, to have come into force on November 6, 1998.

s 5Sinhala 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.