8. Amendment of section 25c of the principal enactment

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

Section 25C of the principal enactment is hereby amended as follows:-

(1)

in subsection (1) of that section, by the addition immediately at the end of that subsection of the following:-

“For the avoidance of doubt it is hereby declared that “economic depreciation” referred to in this subsection, shall not apply in relation to any assets of any person registered under the Finance Leasing

Act, No. 56 of 2000, being an asset which forms part of the leasing stocks of such person.”;

(2)

in subsection (8), by the substitution for the words and figures “payable for each month commencing on or after January 1, 2004 shall be fifteen percentum” of the words and figures “payable for each month commencing on or after January 1, 2004

but ending on or before December 31, 2005 shall be fifteen percentum and for each month commencing on or after January 1, 2006 shall be twenty percentum,”.

Read on from s 9