Sri Lanka Consolidated Acts

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Ceylon Petroleum Corporation (Amendment) Law (No. 2 of 1976) - Sect 10

Amendment of section 37 in the principal enactment

10. Section 37 of the principal enactment is hereby amended by the repeal of subsection (1) and (2) of that section and the substitution therefor of the following new subsection: -
" (1) Notwithstanding that any movable or immovable property has vested in the Corporation by virtue of a vesting Order, the Minister may at any time before an award as to compensation is made in respect of that property under section 65, by subsequent Order published in the Gazette (hereafter in this section referred to as a " divesting Order ") revoke that vesting order in respect of that property or such part of that property as shall be specified in that divesting Order.
(2) The following provisions shall apply in any case where a vesting Order in respect of any movable or immovable property is revoked by a divesting Order: -
(a) that property or the specified part of that property, as the case may be, shall be deemed never to have vested in the Corporation by virtue of that vesting Order, and shall cease to be notified property, and any question which may arise as to any right, title or interest, in or over that property or the specified part of that property, as the case may be, shall be determined accordingly;
(b) that property or the specified part of that property, as the case may be, shall be deemed to have been and to be property which was requisitioned by a requisitioning Order with effect from the date on which that vesting Order took effect and was derequisitioned by a derequisitioning Order with effect from the date of the revocation of that vesting Order;
(c) all claims made under this Act to the compensation payable in respect of that property and all proceedings taken under this Act in regard to such claims before that vesting Order was revoked shall be deemed to be null and void, and fresh claims to compensation in respect of that property or the specified part of that property may be made under this Act and fresh proceedings in regard to such fresh claims may be taken under this Act:

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