4. Section 5 of the principal enactment is hereby amended by the repeal of paragraph (a) of subsection (1) of that section, and the substitution therefor, of the following paragraph :-
| "(a) at the time at which it opens any letter of credit in any month in a relevant quarter, on an application in that behalf being made by any person to whom this Act applies, being an importer of any article, collect from such person an amount equal to
| | (i) one per centum of the value of that letter of credit, where such letter of credit is opened prior to the date on which this paragraph comes into force ; and | | |
| | (ii) three per centum of the value of such letter of credit, where such letter of credit is opened on or after the date on which this paragraph comes into force ; and" | | |
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Sri Lanka Consolidated Acts