11.
| (1) Where a business undertaking is transferred to or vested in the Government under this Act, the Minister of Finance may by order in writing direct any bank in which the person, who immediately prior to the date of transfer or the primary vesting date was the proprietor of that undertaking, has a bank account not to permit him to operate that account or to permit him to operate such account in accordance with the terms and conditions specified in the order. |
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| (2) Where a written order under sub-section (1) is issued to a bank in respect of a bank account, it shall be the duty of the manager of that bank to take all necessary steps to ensure that such bank account is not operated by anyone, or is operated in accordance with the provisions of that order, as the case may be. |
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| (3) Where a written order under sub-section (1) has been issued in respect of the person who was the proprietor of a business undertaking prior to the date of transfer or the primary vesting date of that undertaking and the Minister of Finance is satisfied-
| | (a) that no moneys are due from that person to any other person who prior to the transfer or vesting was employed in that business undertaking; or | | |
| | (b) that that person has paid, or has made adequate arrangements to pay within such period as the Minister of Finance may determine-
the Minister of Finance may vary or cancel the written order issued under sub-section (1). | | | (i) all moneys due from that person to persons who were employed by him in that business undertaking, |
| (ii) all moneys due from that person to the Government or to any public corporation, and |
| (iii) all moneys due from that person on account of income tax imposed under any written law providing for the imposition of such tax, |
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Sri Lanka Consolidated Acts