Ceiling on Housing Property (Amendment) Law (No. 34 of 1974)

Sri Lanka Consolidated Acts

Amendment of section 3 of the principal enactment

4. Section 3 of the principal enactment is hereby amended as follows: -

(1) by the substitution, in paragraph (2) thereof, for the words " not less than one-half " of the words '' more than one-half ";

(2) by the substitution, for paragraph (4) thereof, of the following new paragraph: -

	" (4) a person who, prior to the commencement of this Law, owned shares in houses owned in undivided shares and became the owner thereof otherwise than by inheritance or gift, shall be deemed to own such number of houses as is equivalent to the aggregate of such shares:

(3) by the insertion, immediately after paragraph (4) thereof, of the following new paragraph:

	" (5) a person who, on or after the date of commencement of this Law, becomes the owner of a subdivided portion of a house shall, by virtue of his ownership of such sub-divided portion, and notwithstanding anything to the contrary in section 47, be deemed to own a house. "; and

(4) in the marginal note thereto, by the substitution for the words " of a number ", of the words " of number ".