78. In this Act unless the context otherwise requires- " Board of Directors " means the Board of Directors constituted under this Act; " Compensation Tribunal" means the Compensation Tribunal established under this Act; "Director" means a member of the Board of Directors; " formula" means the principles or the basis on which prices shall be calculated and includes any specified method of calculation of such prices; " immovable property" means land and includes any interest in, or any benefit to arise out of any land, and any leasehold or other interest held by any person in any Crown land, and also things attached to the earth or permanently fastened to anything attached to the earth;" motor vehicle " has the same meaning as in the Motor Traffic Act; " person who was interested "-
| (a) in relation to any immovable property vested in or requisitioned for the Corporation, means a person who, immediately before the date on which such property was so vested or requisitioned, had an interest in such property as owner, co-owner, mortgagee, lessee or otherwise, whether absolutely for himself or in trust for any other person; and |
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| (b) in relation to any movable property vested in the Corporation, means any person who, immediately before the date on which such property was so vested, had an interest in such property as owner, co-owner, mortgagee, pledgee, hirer or otherwise, whether absolutely for himself or in trust for any other person; |
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" petroleum" means petroleum and includes any product, or by-product, which may be derived, purchased, prepared, developed, compounded, made, or manufactured, from hydro-carbons or hydro-carbon compounds; " property requisitioned for the Corporation " means property requisitioned for the Corporation by virtue of a requisitioning Order, and any cognate expression shall be construed accordingly; and " property vested in the Corporation" means property vested in the Corporation by virtue of a vesting Order, and any cognate expression shall be construed accordingly. |
Sri Lanka Consolidated Acts