76.
| (1) Every person chargeable with capital levy under this Act as trustee, executor or agent or from whom such levy is recoverable in respect of the capital of another person may retain out of any assets coming into his possession or control on behalf of such other person or in his capacity as trustee, executor or agent so much thereof as shall be sufficient to produce the amount of such levy, and he shall be and is hereby indemnified against any person whomsoever in respect of his retention of such assets. |
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| (2) Where any person acting as trustee or executor has paid capital levy and no assets of the trust or estate come into his possession or control out of which he could retain the amount of the capital levy so paid such amount shall be a debt due from the beneficiaries of the trust or estate to the trustee or executor. |
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| (3) Where a person chargeable with the capital levy or from whom the capital levy is recoverable in respect of the capital of another person has paid the amount of such capital levy, and no assets of such other person come into his possession or control out of which he could retain the amount so paid, such amount shall be a debt due to him from such other person. |
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Sri Lanka Consolidated Acts