Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsInterest on amount payable
| 26. Any amount payable as the price of any house vested in the Commissioner under this Law, less any deductions that may be made from such amount under this Law, shall carry interest, as from the date on which it accrues due until payment, at such rate as may be determined by the Minister with the concurrence of the Minister in charge of the subject of Finance.Where the amount payable as interest under the preceding provisions of this section exceeds the amount which is equivalent to the rent payable for such house for the period commencing on the date on which the house was vested and ending on the date on which the payment of the price of such house was made, less any sum payable by way of rates and any expenditure by way of repairs, then, the Commissioner shall, in lieu of paying such interest, pay the last-mentioned amount. |