නිල පරිවර්තනයවෙනස් නොකළ පාඨය, Department of Government Printing වෙතින්
(1)
Notwithstanding any provision to the contrary in any other written law, the leasing of a land—
(a)
to a foreigner; or
(b)
to a company incorporated in Sri Lanka under the
Companies Act, where any foreign shareholding in such company, either direct or indirect, is fifty per cent or above; or
(c)
to a foreign company, shall be effected subject to the payment of the Land Lease
Tax imposed under section 6:
Provided however, the maximum tenure of any such lease shall not exceed ninety nine years.
Land (Restrictions on Alienation)
(2)
Any State land so leased shall be re-vested on the
State free of encumbrances upon the lapse of the period of lease.
(3)
Any state land so leased shall not be sub-let or sub-leased violating the provisions of relevant indenture of lease or without obtaining the prior written approval from the
Minister to whom the subject of lands has been assigned.