3.Sections 21, 22 and 23 of the principal enactment are hereby repealed and the following sections substituted therefor:
| 21. Upon the receipt of any claim made under section 20, the Commissioner shall forward such claim to the Secretary to the Ministry of the Minister for reference to a Board of Valuation for the determination of the price payable in respect of the house which is the subject-matter of the claim. |
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| 22.
| | (1) The Secretary to the Ministry of the Minister shall refer to a Board of Valuation for determination of the price payable in respect of every house vested in the Commissioner and shall transmit to the Board all claims made to such price together with all documents furnished by the claimants in support of their claims. | | |
| | (2) A reference made under subsection (1) to a Board of Valuation is hereafter in this Law referred to as a u reference for an award as to price". | | |
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| 23. The price payable for any house vested in the Commissioner under this Law shall be -
| | (a) the market value of the house as at the date of vesting, such market value being determined in the case of a house let to a tenant on the basis that recovery of possession of such house is possible only in accordance with the provisions of the Rent Act, No. 7 of 1972, as were in force on the date of vesting; or | | |
| | (b) where the ownership of the house was acquired by purchase or otherwise prior to April 1, 1957, or otherwise than by purchase on or after April 1, 1957, the market value thereof as at April 1, 1957, increased by an amount calculated at a rate of six per centum of such value for each year up to the date of vesting, and where the ownership of the house was acquired by purchase on or after April 1, 1957, the lowest purchase price as specified in any deed of purchase in respect of such house executed after April 1, 1957, increased by an amount calculated at a rate of six per centum of such purchase price for each year from the date of such deed up to the date of vesting and an additional amount equal to the reasonable value of any additions and improvements made to such house by any owner after the date of such deed, reduced by the net income for that period, whichever amount is lower, and where the provisions of paragraph (b) are not applicable, the amount as determined under the provisions of paragraph (a) : | | |
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Sri Lanka Consolidated Acts