Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Ceylon Petroleum Corporation Act (No. 28 of 1961) - Sect 59

Proportionate payment of compensation, and interest on compensation, until date of payment

49.
(1) The amount of compensation to be paid to any person in respect of any property requisitioned for or vested in the Corporation shall be proportionate to the interest such person had in such property on the date on which the property was requisitioned for or vested in the Corporation:
(2) Any compensation payable under this Act 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 of Finance.

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]